Brief: Vail Resorts Says To Acquire Crans-Montana Mountain Resort In Switzerland

Vail Resorts

30/11/2023 07:06

Nov 30 (Reuters) - Vail Resorts Inc  MTN.N :
    * VAIL RESORTS TO ACQUIRE CRANS-MONTANA MOUNTAIN RESORT IN
SWITZERLAND, THE COMPANY'S SECOND SKI RESORT IN EUROPE
    * SAYS VAIL RESORTS ANTICIPATES THAT RESORT WILL GENERATE
APPROXIMATELY CHF 5 MILLION OF EBITDA IN ITS FISCAL YEAR ENDING
JULY 31, 2025
    * SAYS VAIL RESORTS IS PLANNING TO INVEST APPROXIMATELY CHF
30
MILLION OVER NEXT FIVE YEARS IN ONE-TIME CAPITAL SPENDING
    * SAYS VAIL RESORTS IS ACQUIRING AN 84-PERCENT OWNERSHIP
STAKE IN
REMONTÉES MÉCANIQUES CRANS MONTANA AMINONA (CMA) SA
    * EXPECTED TO GENERATE OVER CHF 15 MILLION OF ANNUAL EBITDA
    * CO IS ACQUIRING AN 80-PERCENT OWNERSHIP STAKE IN SPORTLIFE
AG
    * SUBJECT TO CLOSING ADJUSTMENTS, VALUATION FOR RESORT
OPERATIONS
IS EXPECTED TO BE CHF 118.5 MLN

Source text for Eikon:  ID:nCNWCJh7ja 
Further company coverage:  MTN.N 

 ((Reuters.Briefs@thomsonreuters.com;))