March 28, 2023, Santiago, Chile – The successful agreement between Valle Nevado and Mountain Capital Partners that was announced in January was finalized today, ending the judicial reorganization process under which Valle Nevado had been operating since April 2021.
“The arrival of MCP – a first-rate strategic partner – puts an end to a tremendously challenging stage that put all our leadership to the test, and it begins a new era where the goal will be to strengthen the ski resort’s offer and infrastructure, and resume the path to continue building the best snow destination in the Southern Hemisphere,” said Ricardo Margulis, General Manager of Valle Nevado.
Margulis added that MCP will reactivate investment plans to boost the growth of the ski resort in the coming years, and that the resort is already working with the MCP team, who possess vast experience due to the fact that the company’s U.S. resorts receive more than 2 million skiers per year, collectively.
Margulis concluded by highlighting that “very few companies enter a judicial reorganization, approve it by a large majority (98%) and come out of it in this way, and that is why the prepayment to creditors and the signing of the agreement between the current shareholders (Senerman family) and the CEO of MCP (James Coleman) made the operation one of the most important milestones in Valle Nevado’s history.”
