Tuesday, June 19, 2012

Lanai may be sold by end of week

June 19, 2012
The Maui News

The island of Lanai could be under new ownership by the end of the week, according to Mayor Alan Arakawa.

Lanai's billionaire owner, David Murdock, put the island up for sale late last year. Arakawa said he's been kept in the loop on potential offers, and negotiations with a serious buyer seem close.

"They currently have someone that is interested, and I'm pretty sure that, one way or the other, the sale will close fairly soon," Arakawa said. "There may be something that happens by the end of this week, if it goes through."

The asking price is reportedly between $500 million and $600 million.  Read More