Larry Ellison Buys Most of Lanai

Larry Ellison Buys Most of Lanai

June 21st, 2012

Via: AP:

Oracle Corp. CEO Larry Ellison has reached a deal to buy 98 percent of the island of Lanai from its current owner, Hawaii Gov. Neil Abercrombie said Wednesday.

The land’s owner, Castle Cooke Inc., filed a transfer application with the state’s public utilities commission, which regulates utilities on the island that serve its two resorts.

The sale price for the property, which comprises the vast majority of the island’s 141 square miles, was not immediately clear. Lawyers for the seller redacted a copy of the sale agreement signed May 2, saying it includes confidential information that would competitively hurt Ellison and the seller if disclosed. The Maui News previously reported the asking price was between $500 million and $600 million.

<!– AD CAN GO HERE

Buy gold online - quickly, safely and at low prices

END: AD CAN GO HERE –>

Leave a Reply

You must be logged in to post a comment.

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes