FEDS GIVE NOD TO ASPEN SKIING-KSL AC­QUI­SI­TION

The Denver Post - - BUSINESS -

The U.S. Fed­eral Trade Com­mis­sion and Depart­ment of Jus­tice have not found any an­titrust is­sues in the pro­posed deal by Aspen Skiing Co. and KSL Cap­i­tal Part­ners to buy Cal­i­for­nia’s Mam­moth Moun­tain and In­trawest’s six ski re­sorts, in­clud­ing Colorado’s Steam­boat and Win­ter Park re­sorts.

In­trawest re­cently re­ported that the wait­ing pe­riod re­quired un­der fed­eral an­titrust leg­is­la­tion had ex­pired. That leg­is­la­tion, the Hart Scott Rodino An­titrust Im­prove­ment Act of 1976, pro­hibits merg­ers and ac­qui­si­tions un­til fed­eral agen­cies ex­am­ine the deal for po­ten­tial an­titrust vi­o­la­tions.

The lack of an­titrust is­sues clears a hur­dle for a block­buster deal cer­tain to gen­er­ate in­creased sea­son pass sales com­pe­ti­tion in the U.S. ski re­sort in­dus­try, which is dom­i­nated by Colorado’s Vail Re­sorts and its pop­u­lar Epic Pass.

Roar­ing Fork Val­ley ski area op­er­a­tor Aspen Skiing and Den­ver pri­vate eq­uity firm KSL Cap­i­tal Part­ners joined ear­lier this year in a $1.7 bil­lion block­buster bid for In­trawest’s six re­sorts and its 12lodge CMH he­li­copter skiing op­er­a­tion. The part­ner­ship also an­nounced plans to buy Mam­moth Moun­tain and three other smaller south­ern Cal­i­for­nia ski ar­eas for an undis­closed price.

— Ja­son Blevins, The Den­ver Post

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