Anyone got a spare billion?
3 posts
3 users
781 views
curih
January 21, 2010
Member since 02/18/2008 🔗
177 posts
Intrawest has been seized and is up for auction.

http://olympics.thestar.com/2010/article...during-olympics
gizmosnow
January 21, 2010
Member since 10/6/2005 🔗
269 posts
WOW!! Wonder if any impact on Snowshoe?!
JohnL
January 21, 2010
Member since 01/6/2000 🔗
3,516 posts
Quote:
Intrawest has been struggling with financial problems since it was bought by Fortress in 2006 for $2.8 billion in cash and debt.

The deal was a leveraged buyout with a $1.7 billion loan which came due in late 2008, around the time when the financial meltdown hit.


mad

Another example of a (previously well-run?) company suffering because of risky M&A activities during the boom. Will people ever learn?
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