Intrawest Corporation has initiated a review of strategic options available to the company for enhancing shareholder value, including, but not limited to, a capital structure review, strategic partnerships or business combinations. The company has retained Goldman, Sachs & Co. to assist in the review. There can be no assurance that the review will result in any specific strategic or financial transaction. Intrawest's strategic review is already underway, but no timetable has been set for its completion.
“During the past 24 months, Intrawest has made significant progress in broadening its range of leisure businesses, most notably with the acquisition and expansion of Abercrombie & Kent, as well as extending our business reach into Europe and Asia,” said Joe Houssian, Intrawest's chairman, president and chief executive officer. “We have enhanced our ability to support this growth through various operational initiatives and have made great strides in building a centralized marketing and sales capability to enable us to migrate our customers across a growing array of travel experiences. We now have a unique opportunity to leverage these assets, our strong financial profile and the experience of our management team to build our business to deliver significant shareholder value over the long term.”
“Intrawest stands at a pivotal point in its evolution,” continued Houssian. “It makes sense for us at this time to evaluate all of the different ways in which we can capitalize on the opportunities in front of us for the benefit of shareholders, and to ensure that we have the best possible capital structure in place. Given current robust market conditions, and new opportunities resulting from our recent successes, our Board believes it is appropriate to undertake a comprehensive review of all our strategic and financial options before finalizing our strategic plans for the next several years.”
