KSL Buys 24% of Whistler
SAM Magazine--December 4, 2012--Whistler Blackcomb Holdings Inc. and KSL Capital Partners, LLC (KSL) announced that an affiliate of KSL has entered into a purchase agreement with Intrawest to acquire Intrawest's 9,092,500 common shares of the corporation, representing approximately 24% of the corporation's issued and outstanding common shares, for $12.75 per common share.
As a result of the sale by Intrawest, Bill Jensen has tendered his resignation as a director and CEO and Wes Edens and Jonathan Ashley have tendered their resignations as directors of the corporation, effective as of the time of closing. Also effective as of the time of closing, the corporation's board of directors has appointed Whistler's Dave Brownlie, the corporation's current president and COO, as the corporation's president and CEO and a director, and appointed Eric Resnick and Peter McDermott, both of KSL, as directors to fill the vacancies created by these resignations.
KSL, an affiliate of KSL Capital Partners, currently manages nine premier resort destinations in the United States, some of which are owned by the funds managed by KSL Capital Partners, and include a property at Vail Resorts.