Andermatt Swiss Alps: 149 million CHF transaction with Vail Resorts closed
Vail takes over the majority of the ASA subsidiary for the Sedrun ski area, and Andermatt Swiss Alps receives a further 39 million euros for its core business.
The entry of Vail Resorts into the ski resort Andermatt-Sedrun is perfect. As Andermatt Swiss Alps (ASA) announced today, the 149 million CHF transaction with the US-Americans has been closed. For 110 million CHF Vail Resorts takes over 55 % of the shares in Andermatt-Sedrun Sport AG. ASA, in which Orascom Development holds just under half, owns 40% of the shares. A further CHF 39 million from the transaction will flow to ASA for its core business in the area of hotels, infrastructure and the expansion of Andermatt Reuss.
Plans for the transaction were announced in March (IB reported). (aw)
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