SkiStar AB

08/31/2021 | Press release | Distributed by Public on 08/31/2021 08:23

Completion of SkiStar’s divestment of its stake in Austrian ski resort St. Johann in Tirol slightly delayed

As announced on 5 May 2021, SkiStar sells its 68 percent stake in the Austrian ski resort St. Johanner Bergbahnen GmbH ('St. Johann'). This as part of SkiStar's strategy to consolidate the company's position as the leading holiday organizer for Scandinavia.

The conditions for closing of the transaction - approvals under Austrian regulations - were expected to be met prior to the end of SkiStar's financial year on 31 August. All approvals have not yet been received on this day. However, SkiStar and the buyer, Schultz Gruppe, still intend to complete the transaction as soon as possible after receiving the required approvals.

- We had hoped to close the transaction during this financial year, but unfortunately the process has taken longer than expected. We are now working closely with the buyer, Schultz Gruppe, to obtain the approvals required from local stakeholders under Austrian law and we are fully focused on implementing the transaction together, says CEO Stefan Sjöstrand in a comment.

The information was submitted for publication, through the agency of the contact persons set out below, at 31 August 2021, 4.00p.m. CEST.

Further information can be reached from:
Stefan Sjöstrand, CEO, tel +46 (0)280 84160.
Anders Örnulf, CFO, tel +46 (0)280 84160.

SkiStar in brief:
SkiStar is listed on the Nasdaq Mid Cap, Stockholm. The Group owns and operates alpine destinations in Sälen, Vemdalen, Åre and Hammarbybacken (Stockholm) in Sweden, in Hemsedal and Trysil in Norway and in St. Johann in Tirol in Austria. Market share is 53% in Sweden, 29% in Norway and 43% in Scandinavia. The Group's core business is alpine skiing, with a focus on the guests' overall skiing experience. Operations are divided into two segments; Operation of Ski Resorts and Property Development & Exploitation. For further information, please visit