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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Vail Resorts Inc | NYSE:MTN | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -10.68 | -5.00% | 202.94 | 212.54 | 202.735 | 209.20 | 1,686,031 | 21:38:28 |
From Apr 2019 to Apr 2024
By Ezequiel Minaya
Vail Resorts Inc. said it would buy the ski operations of Stowe Mountain Resort in northern Vermont for about $50 million from the real-estate business of insurance giant American International Group Inc.
Vail Resorts will acquire Stowe's ski business, related infrastructure and machinery and summer season on-mountain attractions. AIG will retain ownership of most of the Spruce Peak base area, including Stowe Mountain Lodge, Stowe Mountain Club and future development rights.
Broomfield, Colo.-based Vail has a strategy of purchasing and improving ski areas near urban centers as way of increasing visitors. The Stowe transaction would give the company a foothold in the populous northeast market.
AIG has been in the real-estate business since 1987 and built the group into one of the world's largest property investors, with about $25 billion in assets before the financial crisis.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
February 21, 2017 09:28 ET (14:28 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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