Compagnie Européenne de Loisirs has informed Compagnie des Alpes that it has sold the entirety of its stake in the company — 2, 087, 862 shares, or 11.8% of overall share capital. The disposal was made by sale of the shares to approximately forty institutional investors.
Compagnie des Alpes wishes to thank Compagnie Européenne de Loisirs which consistently took an active role in company governance, supported company strategy, and spurred along company development since acquiring its stake, in May 2004.
The transaction allows Compagnie des Alpes to increase its free float, which now accounts for 35% of share capital. This should have a favorable effect on the liquidity of CDA shares.
Upcoming announcements:
October 27, 2009, after market close: 2008-2009 sales figures
December 15, 2009, after market close: 2008-2009 annual results
About Compagnie des Alpes
Compagnie des Alpes is a major player in the field of leisure production in Europe. The company operates 37 leisure sites, including 16 leading ski areas in the Alps (including Tignes, Val d’Isère, Les Arcs, La Plagne, Les Menuires, Méribel, and Chamonix) and 21 leisure parks (including Parc Astérix, Grévin, Walibi, etc.) in seven European countries: France, Italy, Switzerland, the Netherlands, Belgium, Germany, and the UK. Consolidated sales were €579 million (23 million visitors) for the financial year ending September 30, 2008, with Group net profit of €36.2 million.
See also:
Compagnie Des Alpes – Half-year 2008-2009 results: resilient margins and strong rise in free cash flow Encouraging business outlook for both business lines
Compagnie Des Alpes – Combined Ordinary and Extraordinary Shareholders’ Meeting of Thursday, March 19, 2009
Compagnie des Alpes First quarter sales rise sharply: +15.5%
