LAWFUEL – US Law News Daily – Skadden is representing Fortress Investment Group in its $2.8 billion acquisition of Intrawest Corporation.
Vancouver-based Intrawest is a world leader in destination resorts and adventure travel. The company has interests in 10 resorts at North America’s most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games.
Intrawest owns Canadian Mountain Holidays, the largest heli-skiing operation in the world, and an interest in Abercrombie & Kent, the world leader in luxury adventure travel. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest – a private resort club with nine locations throughout North America. Intrawest develops real estate at its resorts and at other locations across North America and in Europe.
Subject to the approval of Intrawest’s shareholders and other customary closing conditions, including U.S. and Canadian regulatory approval, the transaction is expected to close in October 2006.
The firm is also representing Fortress in connection with the debt and equity financing for the acquisition of $3 billion, including debt tenders and consent solicitations for its $750 million of public debt outstanding.