Canyons finally closes!!!

Talisker just closed on the Caynons deal. The Toronto-based developer, also developing Empire Pass, announced its intentions to purchase The Canyons from Park City-based American Skiing Company last July. Talisker completed the sale June 30 by paying ASC $123 million, a document filed Monday with the Securities and Exchange Commission states. The proceeds were received in the form of $51 million in cash and $71 million “in secured senior notes,” the SEC document states. Talisker has tried to close the sale since 2007. American Skiing Co. intends to use proceeds from the sale “in accordance with its plan of dissolution, which was approved on June 20, 2007,” according to the SEC report. But land at The Canyons is still controlled by Wolf Mountain Resorts, which will be Talisker Canyons Finance Company’s landlord at the resort….this should be interesting! I would like to think that Talisker will do a good job operating the ski resort, as all of there operations in Park City have been first class so far. The Canyons might actually realize its full potential!!!

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