Sun Ranch near Yellowstone National Park SOLD
April 19, 2010 - Montana
By Juliet Chung and Candace Jackson from The Wall Street Journal Asia
Mining executive Richard Adkerson and two partners have bought a roughly 18,000-acre ranch in Montana for less than $30 million.
Mr. Adkerson is chief executive of Freeport-McMoRan Copper & Gold, the world's largest publicly traded copper company; the other buyers are Charles "Chip" Goodyear, former CEO of Australian mining and oil giant BHP Billiton and private investor Bobby Patrick.
The price of the Madison Valley property-originally offered for $55 million-includes the rights to lease 7,000 acres more. About 97% of the deeded property has been placed under conservation easements.
The three close friends plan to preserve the land and use it as a getaway for friends and family, says Mr. Adkerson, age 63. Chuck Davison of Fay Ranches represented the buyers and Fay's Ryan Flair the seller, Roger Lang, who bought the ranch from the actor Steven Seagal.
This article has been republished from Wall Street Journal
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