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Compagnie des Alpes in talks to become the largest shareholder of Futuroscope

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Related: Compagnie des Alpes First-quarter FY 2009-2010 sales stable (+0.4%), with a slight decline on a like-for-like basis (-1.8%) 
Compagnie des Alpes annual results for FY 2008-2009

Compagnie des Alpes is entering talks with the Conseil Général de la Vienne, with a view to create a long-term partnership with regards to the development of the Futuroscope.

The transaction as planned would consist of merging the Futuroscope theme park with the CDA Group, which would become the controlling shareholder of the park’s operating company. The CDA Group would oversee current operations and financing, which is consistent with its status as industrial operator in the sector. The Vienne département, which currently owns 70% of the park, would remain a significant shareholder, with minority blocking and specific governance rights.

Futuroscope, the third-largest French theme park, is a high-quality site that has recovered significantly since 2003. In 2009 it welcomed 1.7 million visitors (+6%), compared with 500, 000 in 2003. Sales in 2009 came to €80 million, with net income of €8 million.

The unique positioning of Futuroscope, the strength of its brand, and its standing on the French market combine to create conditions that meet CDA’s criteria for its acquisition strategy, and all the more for a joint venture that would enhance the Group’s skills and optimize capital employed.

The planned business combination would heighten the expertise and striking force of both Futuroscope and the Group, especially in terms of content production and marketing capacity. 

In the event of a positive outcome to the negotiations underway, CDA will aim to preserve the unique character of Futuroscope and to strengthen and increase its development, in the framework of an industrial project in collaboration with the Vienne département and the Futuroscope teams.
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Compagnie des Alpes is a major player in the field of leisure production in Europe. The company operates 36 leisure sites, with 15 leading ski areas in the Alps (including Tignes, Val d’Isère, Les Arcs, La Plagne, Les Menuires, Les 2Alpes, Méribel, Chamonix) and 21 leisure parks (including Parc Astérix, Grévin, and Walibi) in 6 European countries: France, Switzerland, the Netherlands, Belgium, Germany, and the U.K. Consolidated 2010 sales reached €576 million with close to 23 million visitors and the net attributable income was €40.2 million for the financial year ending September 30, 2009.

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