CPI PROPERTY GROUP Announces Sale of Crans Montana Ski Resort

CPI PROPERTY GROUP, also known as CPIPG, has officially completed the sale of the Crans Montana ski resort located in Switzerland. The deal includes the transfer of approximately 84% of shares in Remontées Mécaniques Crans Montana Aminona (CMA) SA, an entity that operates the ski lifts in Crans Montana. The buyer of the property is Vail Resorts, Inc. The sale, which encompasses several on-mountain assets and properties, has a gross transaction value exceeding CHF 100 million.

The funds acquired from this transaction will be used by CPIPG to decrease its financial leverage. The Group also indicated that this sale is a part of a broader disposal program, with more dispositions expected to be announced in the near future. CPIPG aims to keep stakeholders regularly informed on further developments.