SFCMC Advances in Acquisition of CG Capital

The Board of Directors of the Société Fermière du Casino Municipal de Cannes (SFCMC) approved on April 15, 2024, a project through its subsidiary, Société d'Exploitation de l'Hôtel Carl Gustaf Saint-Barthélemy, to acquire all shares of CG Capital from Compagnie Financière Roger Zannier. The transaction, set to finalize by April 30, 2024, is contingent on the fulfillment of various conditions, including third-party consents.

The acquisition values the assets at 36 million euros, with deductions for debts estimated at around 20 million euros. This move aims to consolidate ownership of the physical assets of Hôtel Barrière Le Carl Gustaf in Saint-Barthélemy and leverage past investments made in these properties.