Ski resorts operator Aspen Skiing Co LLC and private equity firm KSL Capital Partners LLC will buy Intrawest Resorts Holdings Inc for about US$1.5 billion, including debt, Intrawest said on Monday.

Aspen Skiing and KSL Capital's offer of US$23.75 per share in cash, represents a discount of 6.1 per cent to Intrawest's Friday close. Intrawest's shares were down 6.4 per cent at US$23.69 at midday.

Up to Friday's close, Intrawest's shares had risen 49 per cent since Jan. 12, the day before Reuters reported that it was working with investment banks on a possible sale.

Intrawest, best known for ski properties include Stratton Mountain in Vermont, Mont Tremblant in Quebec and Steamboat in Colorado, had total long-term debt of US$536.8 million as of Dec. 31, according to the latest quarterly filing.

It also owns mountain resorts, adventure retreats and real estate across the United States and Canada.

Aspen Skiing owns and operates four mountains in a winter resort complex in Colorado.

Under the terms, Intrawest will be bought by a newly formed entity controlled by affiliates of Aspen Skiing and KSL Capital.

Deutsche Bank Securities Inc, Moelis & Co LLC and Houlihan Lokey were Intrawest's financial advisers for the deal, while Goldman Sachs advised Aspen Skiing and KSL.

The deal is expected to close by the end of the third quarter of 2017.