Mammoth Mountain Ski Area has engaged Houlihan Lokey Howard & Zukin as their exclusive financial advisor to explore “strategic alternatives” to enhance the value of the company’s shares, including the possible sale of shares. The action was requested by Dave McCoy, founder and controlling shareholder of Mammoth Mountain Ski Area.
Over the past ten years Intrawest has obtained 59.5% ownership of the California ski resort. During the same period of time, Mammoth has grown from 900,000 annual skier visits to over 1.4 million skier visits last year.
As part of the initial Shareholder’s Agreement, Intrawest has a right of first refusal to acquire shares offered to third parties. Intrawest also has the right to sell its shares. In a release, Intrawest said, “these decisions will be made at the appropriate time at Intrawest’s discretion. However, a transaction may not ultimately materialize or be consummated.”
