Tuesday, November 2, 2010

Third Time Lucky?

The financial pathway for Whistler Blackcomb has been more than a little difficult (CanadianBusinessOnLine).  Efforts to find a buyer in the past has met with little success.  They avoided foreclosure just before the 2010 Winter Olympics.  In June it was rumoured that a Russian Billionaire was interested.  Fortress - Intrawest paid top dollar for assets like this and want to try and salvage the investment.  

Next step?  IPO.  But wait.  Pricing the IPO has also been a challenge.  So after a storied history of financial challenges, who and why would be interested in this?

Two snow boarders atop the Blackcombe glacier - Two snow boarders atop the Blackcombe glacier | JOHN LEHMANN/GLOBE AND MAIL

Whistler IPO set to go at $12


Globe and Mail Update

Click Here
Whistler Blackcomb Holdings Inc. finally got its initial public offering done after a second price cut.
The ski resort company will sell shares at $12, according to two people familiar with the transaction.
Whistler originally planned to sell $300-million of stock at $14 to $15 per share. Last week, the company cut the planned range to $12.50 to $13. That pushed up the estimated dividend yield to as high as 7.8 per cent from the original range of 6.5 per cent to 7 per cent.

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