SkiStar Invests in the Alps

SkiStar becomes majority shareholder in Austrian ski resort St. Johann.

The Luxonomist. 05/05/2016

SkiStar has signed an agreement and will, through a rights issue, become the majority shareholder in the Austrian ski resort of St. Johanner Bergbahnen. SkiStar will pay a share issue proceeds of EUR 10 million and thus become the owner of 68 % stake in the company.

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St. Johann is located in the Austrian Tyrol, 125 km from Munich and 95 km from Innsbruck. The company currently has about 300,000 skier days, sales of about EUR 7 million mainly from ski pass revenue and a profit after tax of EUR 0.2 million. Total assets before the issue were valued at about EUR 16 million.

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SkiStar, CEO Mats Årjes comments: «In St. Johann we have found a good ski resort for establishing SkiStar in the Alps. With our knowledge and concepts, the destination’s location and an ongoing hotel expansion in the area, we see good development potential.»

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«We can now offer a European ski resort to our guests to complement our Scandinavian destinations. This also gives us an opportunity to profile St. Johann as a SkiStar destination that focuses on family ski experiences for a European audience. We see our establishment in the Alps and at St. Johann as a stimulating and exciting step for SkiStar.» said SkiStar CEO Mats Årjes.

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