We recently blogged the breaking news that rocked the ski industry, the Aspen, Steamboat, Winter Park merger. Here is a more in-depth look at the $1.7 billon dollar deal, the biggest deal in ski resort history. As early as December, Intrawest’s financial advisors were in talks with 173 potential buyers. Of these 173 potential buyers, 63 were financial firms, 51 were affluent buyers, 32 were foreign investors in the hospitality business, 16 were currently in the global ski industry, 9 were real estate investors and 2 were acquisition companies. By mid February, this list had been narrowed down to just 6 potential buyers. Aspen Skiing had joined with the Denver private equity firm, KSL Capital Partners, to bring a very solid offer to Intrawest’s table. The news broke in early April of the merger and $1.7 Billion Deal That Weds Aspen, Steamboat, Winter Park And Canadian Mountain Heliskiing Operation. There are several other notable tidbits from the SEC filing, including:
- Following the acquisition, Intrawest will no longer exist as a public company.
- Intrawest CEO Tom Marano, will make more than $33 million in the deal off his more than $2.64 million company stock options, not counting a severance package.
- The deal is scheduled to close some time in the Third Quarter of 2017
For more information please read the entire article Inside Look At The $1.7 Billion Deal That Weds Aspen, Steamboat, Winter Park And Canadian Mountain Heliskiing Operation found in the Denver Post.
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