CPI Property Group has announced an important step in its disposal programme. The company has completed the sale of its ski resort business in Crans Montana, Switzerland.
The sale includes approximately 84% of the shares of Remontées Mécaniques Crans Montana Aminona (CMA) SA, the company owning and operating the Crans Montana ski lifts, as well as several assets and properties relating to on-mountain activities.
The purchaser is Vail Resorts, Inc., and the gross transaction value is over CHF 100 million. Cash received by CPIPG will be used to reduce leverage. The Group expects to announce further disposals soon.
