Fortress Investment Group to acquire Intrawest Corp.

Fortress Investment Group LLC has confirmed that they are acquiring resort owner Intrawest Corp.

The deal is worth around $1.8 billion and it would get them access to properties including Whistler Blackcomb Mountain, which is a ski venue for the 2010 Winter Olympics in Vancouver.

Fortress would be paying around $35 a share in cash to Intrawest for this deal. This is an impressive 20% premium over the prevailing share price of the company.

They would also be assuming $950 million of Vancouver- based Intrawest’s debt as part of this deal.

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