A proposed sale of Pennsylvania’s Seven Springs Mountain Resort to Colorado-based Booth Creek Ski Holdings appears to be back on track, after a judge ruled against dissident family members opposing the sale.
In August, Booth Creek offered $100 million to the 27 shareholders of Seven Springs, consisting mostly of descendants of Seven Springs founders Adolph and Helen Dupre. Booth Creek Ski Holdings is the fourth-largest ski area operator in the nation. If the sale goes through, Booth Creek plans to make several improvements to the popular resort starting next summer, including the possible addition of new terrain and expanded lifts. The deal hit a hurdle, however, when many of the shareholders refused to accept the offer.
A Common Pleas Judge intervened, arguing that a 1969 agreement requiring approval of any sale from 75% of the shareholders was not relevant in this particular case, since the acquisition of Seven Springs by Booth Creek is technically considered a merger. With this ruling, the merger is back on track. Both sides hope to complete the merger by the end of November.
M. Scott Smith is the founder and Editor of DCSki. Scott loves outdoor activities such as camping, hiking, kayaking, skiing, and mountain biking. He is an avid photographer and writer.
There are no reader comments on this article yet.