Intrawest Resorts Holdings Inc., the company that owns Blue Mountain Resort, will be sold for $1.5 billion US to a group that includes the parent company of the Aspen Snowmass resort.
Intrawest Resorts Holdings Inc. said Monday it has agreed to be taken over by Aspen Skiing Co. and KSL Capital Partners, a private equity firm. Under the terms of the merger agreement, Intrawest stockholders will receive $23.75 in cash for each share of Intrawest common stock. The transaction was unanimously approved by the board of directors of Intrawest, and is expected to close by the end of the third quarter of calendar year 2017.
Intrawest’s chief executive officer Thomas Marano said, “This transaction creates significant opportunity for Intrawest and delivers tremendous value to our current shareholders.”
You can read the official press release issued by Intrawest here.