Vealls’ Cardrona sale marks first step in Singapore re-focus opposed by Elevation

Mon, 27 May 2013

May 27 (BusinessDesk) – Vealls Ltd has named its preferred bidder for Cardrona Alpine Resort, the first step in a strategy to refocus on Singapore that is opposed by shareholder Elevation Capital Management. Te Anau-based tourism company Real Journeys, whose businesses include the TSS Earnslaw and Milford Sound cruises, will make its first foray into skifields if the acquisition meets due diligence and gets shareholder approval. Cardrona’s operating assets were valued at A$40.9 million, according to Vealls’ first-half accounts, and the skif...

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