Vail Resorts closes Acquisition of majority stake in Crans-Montana Mountain Resort

Vail Resorts (NYSE: MTN) announced on May 2, 2024 that it closed on its purchase of an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona (CMA) SA, which controls and operates the Crans-Montana Mountain Resort in Switzerland, from CPI Property Group. Together with the Crans-Montana Mountain Resort, Vail Resorts also acquired 100-percent ownership in SportLife AG (up from the 80-percent previously announced), which operates one of the ski schools located at the resort, and 11 restaurants located on and around the mountain. Subject to closing adjustments, the valuation for the resort operations is CHF 118.5 million.

Lenz & Staehelin advised Vail Resorts on this transaction.