Stakeholders Association proposal to acquire the Ruapehu Skifields
Ruapehu Skifields Stakeholders Association (“RSSA”) expression of interest in Ruapehu Alpine Lifts Limited (Administrators appointed)
The RSSA is a friendly society incorporated to preserve and promote alpine sports in the Ruapehu region. Amongst our thousands of members and dozens of volunteers we have the knowledge and know-how to capitalise and operate an intergenerationally sustainable alpine operation on Mt Ruapehu that supports regional economic growth.
Our proposal is to incorporate a NewCo to acquire the RAL business, assets and selected liabilities which will be owned by the community. The capitalisation of NewCo is based on receipts from Life Pass Holder’s (“LPH”) settlement fees and a series of public capital raises.
This letter sets out the role and vision of RSSA and the importance of rebuilding public confidence in the skifield operations through the appointment of a strong governance structure and a robust financial case.
Read the RSSA offer letter to MBIE here:
We will also be releasing the Feasibility Study, Term Sheet and additional documents in due course.
There are a number of potential bids who have identified themselves through the media who want to acquire the Tūroa business and assets, and we have heard murmurings of other bids as well (not sure all-of-mountain or just one side). So it's seems a crowded space – which is good if the bids are real, financially robust and respectful to all stakeholders. Part of the reason for submitting a community-led proposal is that in the absence of a cohesive way forwards that the secured creditors may prefer to liquidate the skifields.
The RSSA bid is unashamedly community-led and an all-of-mountain proposal – with an ability to pivot at short notice if necessary. This proposal will need a broad base of community members to financially support the bid – so the time to step-up and contribute to the rescue is hopefully coming soon. In the meantime, you can join the RSSA and donate to the establishment process through the Save Mt Ruapehu Give-A-Little campaign.