Oriole Homes and Levy Merging

MIAMI-Delray Beach, FL-based Oriole Homes Corp., a publicly traded construction and development company, is merging with newly formed Levy Acquisition Co. under the Oriole banner. The value of the deal wasn’t disclosed in a prepared statement from Oriole.

Levy Acquisition is wholly owned by Richard D. Levy, Harry A. Levy, Mark A. Levy, family members and related entities. The three Levys, who serve as directors and officers of Levy Acquisition Co., will be directors and senior executive officers of the merged company.

Levy Acquisition Co. executives plan to get financing to buy all the outstanding shares of common stock they don’t own. The Levy Group owns 60.1% of class A common stock and 24.5% of class B common stock.