Intrawest Sold!

[ctenidae]

http://www.bloomberg.com/apps/news?pid=20601082&sid=aNIqNnutnAUQ&refer=canada

Fortress Investments ( a private equity shop) has agreed to buy Intrawest for $2.8B. Hopefully they'll do better than Oak has with ASC.

 

[Vortex]

I saw this on K-zone. Many $$$$$$. I hope it works out.

 

[ctenidae]

Interestingly, the only semi-related deals I can find with Fortress are a senior living retirement community, and public housing management deals with the British and German governments. Hmmm....

 

[AHM]

That really isn't a whole lot of $$$$$

I saw this on K-zone. Many $$$$$$. I hope it works out.

Most think of interwest as this huge corporation. Well 2.8 Billion is chump change in the big bucks world. Considering a highly profitable Gillette sells for 50 B--and P&G swallowed it without even so much as a burp-- and Amgen builds a new biotech facility in PR for 1.8 B. It goes to show the potential profitability in this business is really rather limited. It'll be interesting to see how it goes and what the long term resort development will look like--will McKenzie(sp) in Revelstoke ever really take off and will they ever build "Jumbo" nearby.

 

[ctenidae]

It's a 20% premium to the stock price at 2/27, and it's down $3 since then, so that's a 25% premium. Not bad.

 

[ski_resort_observer]

As you can see by this thread this process has been going on for several months. Curious what this will mean to the skiing market.
http://forums.alpinezone.com/7575-could-intrawest-sale.html?highlight=intrawest

 

[andyzee]

Been there. Done that. Bought the T-shirt. :wink: Continue the conversation there.

What T-Shirt?