March 16, 2014
Wintergreen Partners Inc. members have approved the $16.5 million sale of the Virginia resort to Jim Justice.
The Daily Progress reports that members voted 1,219-to-21 on Sunday to approve Justice's acquisition of Wintergreen Resort.
Justice also owns The Greenbrier resort in West Virginia.
Justice will pay $2.5 million in member consideration and $14 million at closing.
Wintergreen attorney Dion Hayes says the deal will be good both for Wintergreen and Central Virginia's economy.
Wintergreen encountered financial problems earlier this year because of a mild winter, the loss of its $3 million line of credit with Bank of America and a now-settled tax-credit dispute with the state.