The real estate developer and hotel operator Orascom DH wants to take over the majority stake in the project in Andermatt. There is an agreement with the Board of Directors, the President and principal shareholder of Samih Sawiris for the purchase of a percentage and a share within the next two years, the company on Wednesday. A precondition for a debt that was let over 150 million Swiss francs from Sawiris.
The Egyptian Investor since 2013 a share of 51 percent in the company Andermatt Swiss Alps (ASA), which implements the project in Andermatt. The remaining 49 percent belonging to the on the Swiss stock exchange-listed company, Orascom Development Holding. The transaction should come to pass, would Orascom Development holding 50 percent plus one share of ASA.
the value of The transaction is estimated to be in the communication to 3.2 million Swiss francs. This corresponds to the by an independent appraisal determined the value of the company from ASA of 320 million Swiss francs, it means more. According to earlier data, around 1 billion Swiss francs have been invested in the project in Andermatt.
(oli/sda)
Created: 09.01.2019, 11:47 PM
