STEAMBOAT SPRINGs, Colo – The Aspen Skiing Company and a private equity firm will buy the parent company of Steamboat Resorts.
Aspen will pay $1.5 billion for Intrawest Resort Holdings Inc. and all their properties, including Quebec's Mont Tremblant and Steamboat Resort in Colorado.
The transaction is expected to close by the end of the third quarter. It was unanimously approved by the board of directors of Intrawest.
The Aspen Skiing Company is owned by the Crown family of Chicago.
The Associated Press contributed to this story