Vail Resorts Inc.

NYSE:MTN   3:59:50 PM EDT
234.20
+4.82 (+2.10%)
Mergers / Acquisitions

Vail Resorts Says To Acquire Majority Stake In And Operate Andermatt-Sedrun Sport AG, A Leading Swiss Resort

Published: 03/28/2022 04:15 GMT
Vail Resorts Inc. (MTN) - Vail Resorts to Acquire Majority Stake in and Operate Andermatt-sedrun Sport Ag, a Leading Swiss Resort.
Is Acquiring a 55-percent Ownership Stake in Andermatt-sedrun Sport Ag.
Vail Resorts' Chf 149 Million Investment is Comprised of a Chf 110 Million Investment Into Andermatt-sedrun Sport Ag.
Asa Will Retain a 40% Ownership Stake in Andermatt-sedrun Sport Ag, With Group of Existing Shareholders Comprising 5% Ownership.
Representative of Vail Resorts Will Assume Chair of Board of Directors of Andermatt-sedrun Sport Ag.
Anticipates That Resort Will Generate Over Chf 5 Million of EBITDA in Its Fiscal Year Ending July 31, 2024.
Winter Operations for 2021/2022 Will Continue As Planned.