Talisker officials mum on the sale of The Canyons | ParkRecord.com
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Talisker officials mum on the sale of The Canyons

Now $25 million might hang in the balance as officials at Talisker Corp. aim to finalize its purchase of The Canyons.

Last year, Park City-based American Skiing Company, the parent company to The Canyons, announced it was selling the resort to Toronto-based Talisker.

But the deadline Friday to close the sale was the fourth time Talisker delayed the deal.

"As consideration for the further extension, [Talisker] provided an additional [$5 million] of earnest money deposit in the form of a demand note, bringing the aggregate deposit under the purchase agreement to $25 million," a two-page document ASC filed June 23 with the Securities and Exchange Commission states.

Initially, Talisker agreed to finalize the transaction in 2007.

"We entered into a contract with somebody and when you do that, you do your best on both sides to try to make things work," Tim Vetter, a spokesman for The Canyons said Friday. "People are just trying to be fair with each other right now."

Vetter said the transaction was not finalized when reached Friday afternoon.

A Talisker spokesman was not immediately available for comment.


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