Another local ski resort looks like it won't be locally owned.

The Globe and Mail has reported that China Minsheng Investment Group will purchase Grouse Mountain Resorts Ltd. for $200 million.

Grouse Mountain Resorts subsequently confirmed a pending sale, but wouldn't identify the buyer.

The company acknowledged in a statement that this deal "is expected to close in the coming days”.

“While the transaction is being finalized, we are unable to disclose further information about the buyer," Grouse Mountain Resorts stated. "At this time, we can say that the current transaction will see no changes to staff, management or operations.”

China Minsheng Investment Group was founded in Shanghai in 2014 by 59 private enterprises, according to its website.

The news comes less than a year after Vail Resorts purchased Whistler Blackcomb's operations for $1.4 billion.

The McLaughlin family has controlled Grouse Mountain Resorts since 1974 and put it on the market late last summer.

According to the company, Grouse Mountain attracts 1.3 million visitors per year.

The popular 2.9-kilometre Grouse Grind, which goes up the mountain, is owned by Metro Vancouver.