Investis Holding SA agreed to divest its 83.3% stake in the La Foncière de la Dixence SA project company, which is planning and financing the development of the Dixence Resort in Hérémence, Switzerland.
The majority interest is being sold for an undisclosed sum to mjd Développement SA Nendaz, as part of Investis' plan to focus on the Lake Geneva region in Switzerland and to lower risks in its development business. The deal is slated for completion at the end of February 2019, the Swiss real estate company said.
The project company has spent CHF31 million on the resort development to date. Investis is set to take 21% of profits from the sale, and has an option to buy the property at a predefined value two years after its opening, if it has not been sold by that time.