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Bullboard - Stock Discussion Forum Dream Unlimited Corp T.DRM

Alternate Symbol(s): DRUNF

Dream Unlimited Corp. is a Canada-based company, which is a developer of office and residential assets in Toronto, owns assets in both Canada and the United States, and has an asset management business, inclusive of $26 billion of assets under management across four Toronto Stock Exchange listed trusts, its private asset management business and numerous partnerships. It also develops land... see more

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TSX:DRM - Post Discussion

Dream Unlimited Corp > Dream Unlimited Corp. Announces Sale of Arapahoe Basin

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Post by Betteryear2 on Feb 05, 2024 12:59pm

Dream Unlimited Corp. Announces Sale of Arapahoe Basin

February 05, 2024 12:30 PM Eastern Standard Time

TORONTO--(BUSINESS WIRE)--DREAM UNLIMITED CORP. (TSX:DRM) (“Dream” or the “Company”) today announced it has entered into an agreement to sell Arapahoe Basin (“Arapahoe Basin” or the “Resort”), our ski area in Colorado, to Alterra Mountain Company (“Alterra”). The gross disposition price represents a modest premium to the Resort’s fair market value discussed at our September 6, 2023 Dream Investor Day. Based on today’s exchange rate and internal estimates of taxes payable, management believes this sale will result in after-tax profit of $110 million before closing costs and adjustments. The transaction is expected to close in 2024 and is subject to customary closing conditions, including regulatory approvals.

Dream Unlimited Corp. Announces Sale of Arapahoe Basin | Business Wire