January 9, 2018 / 6:50 AM / 2 years ago

Ski resort operator Compagnie des Alpes buys stake in Travelfactory

PARIS, Jan 9 (Reuters) - French ski resort operator Compagnie des Alpes, which is hoping to sell a stake to Chinese conglomerate Fosun and other potential investors, announced on Tuesday the purchase of a majority stake in Travelfactory.

Compagnie des Alpes said it was buying an initial 73 percent stake in Travelfactory, which specialises in vacation rentals and ski trips, and could eventually buy the full 100 percent of the company over the next four years.

The price of the takeover was not disclosed, although Compagnie des Alpes said Travelfactory had annual sales of around 35 million euros ($41.9 million) and added that the deal would have a “marginal” impact on its earnings.

In December, Compagnie des Alpes said it was confident of making progress in selling a stake to potential investors including China’s Fosun in the coming months.

$1 = 0.8363 euros Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas

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