Ludvik Forms Acquisition Sub

Ludvik Capital Inc., Wilmington, Del., has announced the formation of a subsidiary to acquire properties in Florida, Alabama, Maryland, and Georgia.Ludvik said it has authorized up to $700 million in preferred equity redeemable convertible stock for acquisitions by the subsidiary, Ludvik Properties Inc. "The preferred equity will provide for the build-out and acquisitions of approximately $2 billion over the next 10 years," the parent company said. "Ludvik intends to partner with experienced companies to manage the hotels, resorts, vacation ownerships, and vacation rentals it is proposing to acquire." The company can be found on the Web at http://www.ludvikcapital.com.