Acquisition of CG Capital shares by SFCMC finalized

The Société Fermière du Casino Municipal de Cannes (SFCMC) has announced the finalization of the acquisition of all of the shares in the company CG Capital. This operation, carried out by its subsidiary, the Société d'Exploitation de l'Hôtel Carl Gustaf Saint-Barthélemy, was initially announced on April 15, 2024.

CG Capital, lessee of the premises of the Hôtel Barrière Le Carl Gustaf Saint-Barthélemy and owner of the premises of the Hôtel Le Normandie in Saint-Barthélemy, was owned by Compagnie Financière Roger Zannier. The transaction, carried out after several conditions precedent and commitments, values these assets at 36 million euros. After deduction of debts, the price paid amounts to 20 million euros.

Thanks to this acquisition, the SFCMC, via its subsidiary, becomes the owner of the premises of the Hôtel Barrière Le Carl Gustaf after exercise of the option. The group thus intends to optimize the investments made in these buildings.