American Skiing Company Announces Agreement to Sell Sugarbush Ski Resort.

PR Newswire | September 10, 2001 | Copyright

NEWRY, Maine, Sept. 10 /PRNewswire/ --

American Skiing Company (NYSE: SKI) announced today that it has entered into an agreement to sell its Sugarbush Resort in Warren, Vermont to Summit Ventures NE, Inc., a company formed by a group of local investors.

"American Skiing Company is focused on improving our financial results and resort operations," said American Skiing Company CEO BJ Fair. "While we were not seeking a buyer for Sugarbush, we believe the unsolicited offer we received from Summit Ventures is in the best interest of American Skiing Company ...

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