Hawaii governor: Oracle Corp. CEO Larry Ellison agrees to buy 98 percent of island of Lanai
Breaking news: the Lana’i buyer is apparently Larry Ellison, the CEO of Oracle. From the AP:
Oracle Corp. CEO Larry Ellison has reached a deal to buy 98 percent of the island of Lanai from its current owner, Hawaii Gov. Neil Abercrombie said Wednesday.
The land’s owner, Castle & Cooke Inc., has filed a transfer application with the state’s public utilities commission, Abercrombie said.
The sale price for the property — the vast majority of the island’s 141 square miles — was not immediately clear. The Maui News previously reported the asking price was between $500 million and $600 million.