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FRENCH LIFT COMPANY HOPES FOR CHINA DEAL
Saturday May 27, 2017 - Email this article to a friend

Compagnie des Alpes sees earnings rise and therefore the prospect of deal with China. NEW


Compagnie des Alpes is the largest lift operator in Europe.

It operates at many ski resorts in France including Les Arcs, La Plagne, Tignes, Val d'Isère, Les Menuires, Méribel Alpina, Les 2 Alpes, Serre Chevalier, Flaine, Samoëns, Morillon, and Sixt Fer à Cheval.

It is a principal shareholder of Chamonix and Megève (via the Compagnie du Mont-Blanc) and it also possesses three minor holdings in Avoriaz, Valmorel and La Rosière.

The first half company earnings rose 1.8% to €167.9m.

The group also expected annual revenue growth at its ski resorts business to exceed 3.5%.

Compagnie des Alpes said more favorable economic and political conditions made it hopeful of reaching a deal this year to sell a stake in the company to Chinese conglomerate, Fosun.

It wants to expand its operations into China, and has been looking for partners to help this strategy.  

China is a rapidly expanding snowsports market. 

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"We need partners. The deal has not been done yet. I am convinced it will happen. I think it's time today to focus on the interest of the company," said the Chairman and Chief Executive, Dominique Marcel, to business media.

Fosun already controls the French holiday company, Club Med, and is expected to take up to a 10% stake in Compagnie des Alpes. 

40% of CdA is held by the state-owned French bank, Caisse des Depots which means the company will be anchored in France.

Compagnie des Alpes also runs 13 leisure parks in Europe, including Parc Asterix and the Grevin waxworks museum in Paris.

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