An investment group from Shanghai is picking up a ski area across the Pacific in what will likely be its first snow-based investment in Canada reports The Vancouver Sun.
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While no entity has been named officially, rumors currently have China Minsheng Investment Group pegged as Grouse Mountain’s newest owner. The buyout would mark the private investment juggernaut’s first foray into Canadian snow-business.
“We can confirm that there has been an agreement reached with a potential purchaser on a pending transaction. The transaction is expected to close in the coming days. While the transaction is being finalized, we are unable to disclose further information about the buyer.”– Julia Grant, Grouse Mountain Spokesperson
A spokesperson for the Vancouver-based ski area, Julia Grant said in a statement that the transaction will not affect operations and most employees should keep their jobs. We will update this story as more information becomes available.
Find the entire Vancouver Sun article here: Grouse Mountain to be sold to a Chinese investor