(CercleFinance.com) – The SBM Group (Société des Bains de Mer) of Monaco announces that its subsidiary under Luxembourg law, Monte-Carlo SBM International Sàrl, has signed an agreement committing it to the acquisition of a hotel establishment in Courchevel , in the Northern Alps.
The Monegasque tourism group intends to carry out a major renovation of this ‘Palace des Neiges’, ‘to soon bring to life all its know-how and all its expertise in the field’, in a partnership with the Vallat group .
This acquisition should be finalized before the end of the first half of the 2023-24 financial year, the proposed acquisition being subject to generally applicable conditions. Financial details are not disclosed.