It was announced this morning that ski resort operator Aspen Skiing Company (AKA “Aspen Ski Co”) and private equity firm KSL Capital Partners, owners of Squaw-Alpine, will buy Intrawest Resorts Holdings for about $1.5 billion including debt.
Intrawest’s ski properties include Stratton Mountain in Vermont, Mont Tremblant in Quebec and Steamboat in Colorado among others. The company also owns mountain resorts, adventure retreats and real estate across the United States and Canada.
Aspen Skiing and KSL Capital have offered $23.75 per share in cash. Intrawest’s shares had risen 49 percent since Jan. 12.
Reuters is reporting that under the terms, Intrawest will be bought by a newly-formed entity controlled by affiliates of Aspen Skiing and KSL Capital. Intrawest had total long-term debt of $536.8 million as of Dec. 31, according to the latest quarterly filing.
- Blue Mountain, Ontario
- Snowshoe Mountain, West Virginia
- Steamboat Ski Area, Colorado
- Stratton Mountain Resort, Vermont
- Mont Tremblant Resort, Quebec
- Canadian Mountain Holidays, Alberta
- Winter Park, Colorado
- Zihuatanejo, Mexico
Find the entire Reuters article here: Aspen Skiing Co, KSL Capital to buy Intrawest for about $1.5 billion