12 June 2025
Ref: 024946 / DOIA-REQ-0012488
Stephen Prendergast
[FYI request #30636 email]
Tēnā koe Stephen Prendergast
We are writing to provide you with further information in relation to your request of 7 April 2025, seeking,
under the Official Information Act 1982 (the Act), the fol owing information:
Please supply the Term Sheet and SPA agreed with WHL for the purchase of the RAL assets and
business at Mt Ruapehu.
The Ministry of Business, Innovation and Employment (MBIE) maintains its view that the Sale and
Purchase Agreement and term sheet should not be released on the grounds previously outlined in our
response to you of 28 April 2025.
For additional context, Ruapehu Alpine Lifts Limited’s (in Administration) (RAL) Receivers owned the
Whakapapa ski field assets which were sold to Whakapapa Holdings (2024) Limited (WHL). The Crown did
not have a direct role in the sale of these assets, and is not a signatory of the agreement. Therefore, MBIE
does not consider it appropriate or in the public interest to release commercial y sensitive information on
transactions between private entities.
However, the Crown did agree to provide $5 mil ion of financial support to WHL to support the sale of
RAL’s Whakapapa ski field assets. Information relating to the decision has been proactively released and is
available online
at Sale of Ruapehu Alpine Lifts Limited’s Whakapapa Ski Field: Options.
While the term sheet of the loan remains commercial y sensitive, we would like to provide you with some
additional information that we hope you will find useful:
• The loan was provided to WHL for the purpose of working capital and capital expenditure
associated with the operation of the Whakapapa ski field.
• The Crown did not take an equity stake in WHL.
We hope that this provides further context to the refusal, and the additional information will be helpful to
you.
Nāku noa, nā
Karl Woodhead
General Manager Strategy, Planning and Performance
Kānoa – Regional Economic Development & Investment Unit
