The British private equity fund Icon Infrastructure is one step away from the acquisition of the ski resorts of Sestriere, a management infrastructure that belonged to Fiat degli Agnelli for 75 years and is currently owned by private shareholders. The heart of one of the most famous ski areas in the world, that of the Vialattea, which embraces several countries from Sauze d’Oulx to Claviere to get to Sestriere, has ended up in the radar of the foreign buyer.
Due diligence in full swing
According to rumors, the negotiations with the English fund are at an advanced stage. There would still be a few weeks left for a formal transition. Icon Infrastructure is in fact completing its due diligence, with a conclusion probably expected in mid-January.
After this further step, there will be room for the final touches on the offer.The UK group would therefore be about to achieve what in 15 years, i.e. since other shareholders have taken over Agnelli, no other potential interested (many have come forward without success in this period) has managed to do: that is to acquire the control package of Sestrieres Spa, that is the private company that manages the lifts and the slopes of Sestriere and surroundings .
Owners towards the sale
The latter belongs to 2 private partners: namely the president Giovanni Brasso and Alessandro Perron Cabus with their respective families. The former owns 65% of the company through Publi Gest, while the latter controls 35% through a limited liability company called Abc.
The 2 shareholders took over the company from Agnelli for 30 million, in the year of the Turin 2006 Winter Olympics, when Sergio Marchionne’s remedial measures led to a revision of the then Fiat group.
For 16 years Giovanni Brasso and Alessandro Perron Cabus have maintained the helm of the management of the facilities, not without difficulty starting with the management of the complex relationship with the municipalities of the Vialattea ski area. The convention of 7 May 2020, signed in fullpandemic and signed between the first citizens of the territory and the company, it has effectively handed over control of the mountain to Sestrieres Spa until 2040.