ACRO Global Tourism Marketer Articles: Saddleback sale remains on hold as buyers continue to seek financing

Saddleback sale remains on hold as buyers continue to seek financing
By

David
22 March 2018 (Edited )

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Portland Press Herald

David H. Boggs

President/CEO
ACRO Global
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TourismMarketer

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Website	Visit Website http://majellagroup.com/saddlebackmaine/
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Related Articles	Saddleback likely to remain closed for 2017-2018 as sale drags on BREAKING: Australian developers Majella Group have bought Saddleback Saddleback Mountain Foundation plans to buy closed Saddleback Maine and reopen the ski area as a community-owned nonprofit

External Article: https://www.pressherald.com/2018/03/15/australian-ceo-says-visa-program-not-key-in-business-model-to-purchase-saddleback/

Comments on Saddleback sale remains on hold as buyers continue to seek financing

•David
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•David

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Posted 22 March 2018:

A leaked audio tape of a September Majella staff meeting has CEO Sebastian Monsour saying that opening the ski area isn't a "primary concern" for his company - rather, the access to EB-5 visa financing the deal could give Majella.

Monsour has subsequently denied the EB-5 financing is driving the deal, and said that Majella is also pursuing conventional financing; also that the deal should be completed "soon."

The "latest update" on majellagroup.com is still the original one from June 2017.

A group of local citizens who wanted to buy and reopen the mountain continues to meet.

Let's hope for a December 2018 opening.

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