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Tuesday, February 9, 2010 2:26:15 PM
Olympic venue owner continues asset sell-off
Vancouver-based Intrawest ULC., which owns a primary venue of the 2010 Winter Olympics, continued to sell off assets in the midst of the serious financial troubles surrounding its corporate owner
On Tuesday, Intrawest said it plans to sell its 2,400-acre Sandestin Gold and Beach Resort in northwest Florida to the Becnel family. Financial terms of the deal were not disclosed, but the deal is expected to close in the first quarter of 2010.
The purchase agreement includes the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida and two hotel properties.
This is Intrawest's fourth resort sale in recent months. Last week, it announced it was selling the Village at Squaw Valley at Lake Tahoe. In late January it sold the Panorama Mountain Village Resort to a local consortium of investors.
Last December, Intrawest closed the sale of its Copper Mountain resort in Colorado, which it had owned since 1997.
Richmond helicopter firm wins major U.K. contract
A consortium that includes Richmond-based CHC Helicopters, has won a 25-year contract to provide comprehensive search and rescue services to the U.K. government.
CHC will provide all helicopter operations support, including facilities and crew, to service 11,000 kilometres of coastline and 3.6 million square-kilometres of sea from 12 bases spread from Culdrose in the south of England to Sumburgh in Northern Scotland.
CHC will completely transition the U.K.'s search and rescue operations to a Sikorsky S-92 helicopter fleet and will focus on maintaining its safety record that has half the accident rate of other major international airlines and a third of other major helicopter operators in the region.
The contract will make CHC the world's largest commercial provider of offshore helicopter services with a fleet of more than 270 aircraft operating in 30 countries.
Final details about the contract have yet to be ironed out between the U.K. government and the service consortium that includes Thales, the U.K's second largest defence eletronics systems supplier, Sikorsky Helicopters and the Royal Bank of Scotland.
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