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Bluegreen Vacations to go private

Brian Bandell
Bluegreen Vacations to go private

About 17 months after going public with an IPO, Bluegreen Vacations Corp. will be taken private, the company announced on March 4. Fort Lauderdale-based BBX Capital Corp. (NYSE: BBX) beneficially owns about 90 percent of the common stock of Boca Raton-based timeshare developer Bluegreen (NYSE: BXG). When Bluegreen launched its IPO in November 2017, its shares were priced at $14 each.  “While Bluegreen went public in November 2017, the anticipated benefits of becoming a public company were not fully realized and the costs and management time associated with being a public company were significant,” Bluegreen said in a news release.