Vail To Buy Australian Ski Resort For About $136 Mln.

(RTTNews) - Vail Resorts Inc (MTN) on Monday agreed to buy its first international mountain resort, Perisher Ski Resort in New South Wales, Australia, for AU$176.6 million (about US$136 million), subject to certain adjustments.

Vail said it is purchasing 100 percent of the stock in the entities that operate Perisher from Murray Publishers Pty Ltd and Transfield Corporate Pty Ltd in Sydney.

The deal is expected to close in the fourth quarter of fiscal 2015.

Perisher is the largest and most visited ski resort in Australia, and is well-positioned with access to the country's largest cities.

Vail expects Perisher to generate incremental Resort Reported EBITDA of about AU$20 million (about US$16 million) during its first twelve months of operation following the acquisition.