Resorts of the Canadian Rockies has entered into negotiations with Ballast Nedam regarding the sale of the four-season recreation resort Kicking Horse Mountain Resort, which Ballast Nedam has developed and operates.

In anticipation of possible agreement, the external regulatory (governmental) procedures have been put in motion.

Resorts of the Canadian Rockies is one of the largest private ski resort owner/operators in North America, owning five ski resorts across Canada including Fernie Alpine Resort and Kimberley Alpine Resort. In addition to the ski resorts RCR also owns and operates a number of accommodation properties, golf courses, and a central reservation agency.

The owner of RCR is Murray Edwards, the media shy lawyer-turned financier who also owns big stakes in Ensign Energy, Canada’s second biggest oil services company, and Penn West, one of Canada’s biggest energy trusts. He also owns shares of the Calgary Flames hockey team and over 30% of a management and holding company, Jovian Capital Corp. Edwards is Chairman of the Board of Magellan Aerospace Corporation.

Ballast Nedam has a leading position in construction and infrastructure. The company operates mainly in the Netherlands on integrated and other projects for companies, public authorities and housing consumers, in the fields of mobility, housing, employment, leisure and energy. Ballast Nedam operates internationally in various areas of expertise. Ballast Nedam supplies project, process and contract management in the development, implementation and management phases. The company also provides specialized know-how and skills, and semi-finished and finished products. Ballast Nedam is listed on NYSE Euronext in Amsterdam. The share is included in the Amsterdam Small Cap Index. For more information please refer to http://www.marketwatch.com .

SOURCE Ballast Nedam NV