Vail Resorts to acquire a 55% stake in Andermatt-Sedrun Sport from Andermatt Swiss Alps for CHF149m.

Vail Resorts, an American mountain resort company, agreed to acquire a 55% stake in Andermatt-Sedrun Sport, a renowned destination ski resort in Central Switzerland, from Andermatt Swiss Alps, a holiday resorts operator, for CHF149m. "Entering the European ski market has been a long-term strategic priority for Vail Resorts. We are excited to be partnering with ASA and investing our capital and resources to support the ongoing development of Andermatt-Sedrun into one of the premier alpine destination resorts in Europe, with integrated operations in lifts, food and ski school. The extensive investments that ASA and the Sawiris family have made in both the base area and the mountain have created a high-end experience with significant capacity for growth from guests from Switzerland, the United Kingdom, other parts of Europe and around the world. We plan to rely heavily on, and learn from, our partners, community members and the Andermatt-Sedrun team as we gain experience and understanding of the resort, its guests and operations," Kirsten Lynch, Vail Resorts CEO.