Ninety-eight percent of Lanai, the sixth largest Hawaiian island, is being sold by Dole Food Company Inc. (DOLE
) Chairman David Murdock to Oracle Corp. (ORCL
) CEO Larry Ellison, according to a July 19 filing with Hawaii's Public Utilities Commission. Murdock, who currently owns 98 percent of the island, is designated in the transfer agreement to retain the right on completion of the "Lanai Transaction" to build a wind farm on the northwestern part of the island, Honolulu-based KHON News reported
. Sen. Kalani English, D-HI, said he had been informed by Ellison's representatives that the CEO of Oracle, winner of the 2010 America's Cup sailing race and owner of one of the fastest sail-racing yachts in the world had "no interest in pursuing wind."
Shipwreck Beach, Lanai, Hawaii is seen in this undated file photo.