KSL Skis into Whistler, Taking 24% Stake in Resort
December 5, 2012
KSL Capital Partners has entered into a purchase agreement to acquire Intrawest's more than nine million shares in Whistler Blackcomb Holdings (TSX: WB), a Canadian ski resort. The shares, which represent an approximate 24% stake in the company, will be bought for $12.75 each, for a total of almost $116 million. Whistler Blackcomb, site of the 2010 Olympic Winter Games, is a four-season mountain resort near Vancouver, British Columbia. It fits nicely into KSL's investment approach; the PE firm specializes in travel and leisure enterprises in the hospitality, recreation, clubs, real estate and travel services sectors.