AUGUSTA — A meeting Thursday between the potential buyers of Saddleback Mountain ski area and the Finance Authority of Maine to secure a loan guarantee critical to the sale was postponed Wednesday pending additional information. William Norbert, FAME Governmental Affairs & Communications manager, said in an email Wednesday afternoon, “FAME has determined that additional analysis […]
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Posted inBusiness, Maine, News
Saddleback buyers seek loan from Maine Rural Development Authority
Arctaris, a Boston firm, also wants loan insurance from the Finance Authority of Maine in a $6.5 million deal to reopen the ski resort.
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Posted inBusiness, Franklin, Maine, News
Buyers postpone Saddleback purchase while state reviews backing
The sale of the closed ski resort will be pushed into early next year while the Finance Authority of Maine reviews the buyer’s application for state-backed debt insurance.
Posted inBusiness, Franklin, News
Prospective Saddleback buyer nears deadline to raise $2 million to close the deal
Arctaris Impact Investors has given itself until Dec. 16 to raise the money through a nonprofit.
Posted inBusiness, Franklin, Maine
Reopening Saddleback will bring more than skiing back to Rangeley area
A range of emotions in Rangeley — “I think everybody around here is very excited,” “I don’t think they want to celebrate until that line is signed” — around the new Saddleback Mountain sale announcement.
Posted inBusiness, Franklin, Maine, News
Saddleback sale agreement lifts hopes for long-closed ski area to get up and running
After four years of uncertainty, the ski area near Rangeley is expected to reopen in 2020 under the ownership of a Boston investment company.
Posted inBusiness, Maine, News
Talks to reopen Saddleback Mountain ski resort stall
A potential deal between the owners and Boston investors, announced in June, collapses amid finger-pointing and accusations.
Posted inBusiness, Maine, News, Sports
Boston investment firm still pursuing purchase of Saddleback ski area
But the Arctaris Impact Fund says the $10 million in federal tax incentives it is eligible for doesn’t figure in those negotiations.
Posted inBusiness, Maine
Boston investment firm offers to buy Saddleback
The Rangeley ski resort has been closed since 2015.
Posted inMaine, sj-web
After would-be buyer arrested, Maine group eyes Saddleback
A group that once had been in negotiations to purchase Saddleback plans to approach the ski area’s owners about reviving those talks following the news Thursday that an Australian businessman who had entered an agreement to buy the resort was arrested and charged with fraud. “We see a path forward that can work and we […]