According to the Daubé the Compagnie des Alpes is about to swallow another first tier French ski area, this time les Deux Alpes. It will buy 90% of Deux Alpes loisirs (DAL), the company that runs the ski lifts and apartments and mountain restaurants in the resort. Yesterday an extraordinary general meeting was held to distribute dividends to shareholds. The president of the DAL, Henri Brac de la Perrière, says that the CdA will not pay dividends in the future. The CdA has asked the mothership the Caisse des consignations et dépôts (CDD) and the Caisse d’Epargne Rhône-Alpes and the Banque populaire des Alpes to help fund the purchase.

The Dauphine Libere says that the current head of Serre Chevalier Valley, Mr Jean-Yves Salle, is in the frame to run the DAL in the short term.

http://www.ledauphine.com/index.jspz?article=231038&chaine=13

http://pistehors.com/backcountry/wiki/Bio/Compagnie-Des-Alpes

The deal is done. CDA has bought 90% of the capital of Deux Alpes Loisirs for 46 millions euros, more than suggested in the Dauphine Libere last weekend. The CDA is paying out 27.7 millions euros the rest of the money is coming from various financiers. The various partners will have shareholdings in Deux Alpes Invest: Compagnie des Alpes (60 %), Caisse des Dépôts (19 %), Banque Populaire des Alpes (12,6 %) et Caisse d’Epargne Rhône-Alpes (8,4 %). The CDA says the operation shows that even during difficult financial circumstances it has the capacity to sieze external opportunities for growth.