Govt to take 25% stake in ski fields under sale scheme
Administrators recommend sale of businesses for $1 to new private companies.
Under the sale scheme new company Whakapapa Holdings would assume liability for $13.5m of Gondola loans.
Details of sale proposals for the Tūroa and Whakapapa ski fields published by administrators on Tuesday evening show the businesses sold for $1 to private buyers, with the Government taking a 25% stake in the new companies.
The plan follows the insolvency of Ruapehu Alpine Lifts Ltd in November and
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