Carnival Corp., through its subsidiary Holland America Princess Alaska Tours, on June 6 entered into a purchase and sale agreement to acquire the White Pass & Yukon Route division of Canadian golf course operator TWC Enterprises Ltd.
The division includes Whitepass' port, railroad and retail operations in Skagway, Alaska.
The transaction will close July 31, subject to customary closing conditions. Financial terms of the deal were not disclosed.
Holland America also signed a memorandum of understanding with Survey Point Holdings Inc. and several of its affiliated companies that will create a joint venture to make Survey Point the managing partner of the businesses that Carnival is acquiring from TWC.
According to the release, partners in the joint venture are looking to invest in expanding docking facilities at the port to accommodate new cruise ships, among other investments they plan to make.
The memorandum of understanding also states that Survey Point and its affiliate P3 Group and Rail Management Services will own a majority stake in the venture, while Carnival will retain a minority stake.
