INVESTIS HOLDING SA Press release
Zurich, 14 December 2018
Investis sells majority stake in project company La Foncière de la Dixence SA
- Greater focus on Lake Geneva region
- Risk reduced in development business
Investis signed a contract today to sell its 83.3% majority stake in project company La Foncière de la Dixence SA to mjd Développement SA, Nendaz. The project company is currently planning and funding the Dixence Resort development in Hérémence. The parties have agreed not to disclose the purchase price. The transaction is scheduled for completion at the end of February 2019. La Foncière de la Dixence has invested a total of CHF 31 million in this project to date. Investis is selling its stake now in order to concentrate its activities more on the Lake Geneva region and simultaneously reduce risks in the development business.
Investis retains a connection to the project: it will take 21% of profits from the resulting sale; alternatively, it has undertaken to buy the hotel and spa two years after they open at a predefined price appropriate to the projected construction costs if they have not already been sold by that point.
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