Whistler Resort Operator Agrees to $2.8-Billion Sale

Vancouver, B.C. -- Intrawest Corp., the operator of Whistler Blackcomb and nine other mountain resorts in North America, has agreed to sell the company to Fortress Investment Group for $2.8 billion.

Located in British Columbia, Whistler Blackcomb Ski Resort is a popular, year-round incentive destination and a venue for the 2010 Winter Olympics.

In addition to Whistler Blackcomb, Intrawest operates Copper Mountain and Winter Park, in Colorado; and Mammoth Mountain, in California.

The company also owns Canadian Mountain Holidays, a heli-skiing operation; and a two-thirds interest in Abercrombie & Kent, the luxury, adventure-travel tour operator.

Fortress Investment Group, of New York, manages approximately $23 billion in private-equity capital.

The sale is subject to shareholder and regulatory approvals. The transaction is expected to close in October.