Good news for Tamarack: New ownership

Posted By: The Ski Channel on December 27, 2010 10:32 am

It would now seem that the long battle with financing Tamarack Resort in Idaho is coming to an end.  New ownership is lined up and what once promised to be an amazing resort is back on track to be just that.

 

It has been a week of good news and optimism at Tamarack Resort, and it appears the ski resort opening for the season is just the beginning.

Tamarack owner Jean-Pierre Boespflug announced a new buyer for the financially troubled resort Wednesday morning.

There were at least three offers to buy the resort.  The companies were Pelorus Group of Salt Lake City, JMA Ventures of San Francisco, and Green Valley Holdings of Eagle, Idaho.

Boespflug announced Green Valley Holdings, a newly-formed group, will be the new owner of Tamarack Resort.

Final bids on the resort were made Dec. 16.  Green Valley Holdings was selected for having the a combination of the highest bid, adequate deposit, and proof of fund to support their $40 million offer.

The letter of intent signed by both parties must be transformed into a fully binding Asset Purchase Agreement by Jan. 16, 2011.

For the whole article from ktvb.com click here

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