A timeshare company based in Las Vegas is being sold to a private investment firm.
The price? $2.2 billion.
The Las Vegas Review-Journal reports Diamond Resorts International is being sold to Apollo Global Management, with the sale expected to close in the next few months.
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Apollo may be a familiar name to some in the area – the company was one that helped acquire Caesars Entertainment in 2008.
Diamond Resorts manages more than 400 properties worldwide.
The Wall Street Journal reports Apollo Global Management has been acquiring a wide portfolio of businesses this year, including grocery chain Fresh Market as well as the company that operates the University of Phoenix online college.
