The Cardrona Alpine Resort is offering to buy the Treble Cone skifield for $7million, plus 20 years' free skiing for some shareholders. Treble Cone Investments Ltd board chairman Don Fletcher yesterday released a letter sent to the 59 shareholders on Tuesday. It confirms Treble Cone has entered into an exclusive and conditional heads of agreement with Cardrona to sell the assets and business. Cardrona would pay the $7million and also provide those company shareholders who are entitled to Treble Cone ski passes with a replacement 20-year transferable pass for Cardrona, the Soho Ski Area and Treble Cone. Mr Fletcher said the sale process began about a month ago when Cardrona made a formal approach to Treble Cone, which is an unlisted public company.
Source: Otago Daily Times June 19, 2019 16:30 UTC