CPI Property : Press release CPI PROPERTY GROUP – Sale of Crans Montana Ski Resort

Published: 2024-05-02 08:00:05 ET O5G.DE

CPI Property Group (société anonyme)

40, rue de la Vallée L-2661 Luxembourg

R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 2 May 2024

CPI PROPERTY GROUP - Sale of Crans Montana Ski Resort

CPI PROPERTY GROUP ("CPIPG" or the "Group") is pleased to announce an important step in the Group's disposal programme.

Today, CPIPG completed the sale of our ski resort business in Crans Montana, Switzerland, which 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 more than CHF 100 million.

Cash received by CPIPG will be used to reduce leverage. The Group expects to announce further disposals soon and will continue to keep our stakeholders updated.

For further information, please contact:

Investor Relations

Moritz Mayer [email protected]

For more on CPI Property Group, visit our website: www.cpipg.com

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Disclaimer

CPI Property Group SA published this content on 02 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 11:51:27 UTC.