Alliant Energy to incur charge on Brazil investments; sell resort
Alliant announced plans to sell the 870-acre Laguna del Mar resort development near Puerto Penasco in the Mexican state of Sonora. The company acquired full ownership of the resort earlier this year in order to avoid of protracted legal fight with former business partners in the development. Alliant has not disclosed the price it paid to acquire full ownership of the resort.
Laguna del Mar is an $85 million project that includes 1,750 single-family homes, a 32-unit condominium, 300-room hotel and an 18-hole golf course designed by Jack Nicklaus.
Link: Alliant Energy to incur charge on Brazil investments; sell resort – 2005-07-14.