Mountain Capital Partners (MCP), a US firm that is the majority partner of two of the three ski centers in the Metropolitan Region (Valle Nevado and La Parva), seeks to continue expanding its business. This time as a lifeguard for Andacor, the controller of Farellones and El Colorado, in the midst of a judicial reorganization process for debts totaling $15,679 million.
The company offered up to $6,000 million to become the controlling shareholder of the firm, as reported by Andacor to the Financial Market Commission (CMF).
“Andacor received a non-binding letter of intent, in English, sent by Mountain Capital Partners (“MCP”), through which this company expresses its interest in carrying out a capital contribution in Andacor for the sum of up to $6,000,000,000, based on a company valuation of $8,000,000,000, to become a controlling shareholder in this way,” the company reported.
The document details that MCP’s interest is subject to the approval of the reorganization agreement of Andacor (whose next meeting of creditors will be on June 14), in the terms requested by the American firm, and to the satisfactory result of a due deligence of Andacor and its businesses.
Previously, the company that owns Farellones and El Colorado had proposed adding a “strategic partner” to its reorganization plan. Specifically, the proposal pointed out that the “process may include measures such as capital increases, possible capitalization of debts by related entities and/or third parties, or the incorporation of a strategic partner in the ownership of the debtor company through a capital increasemerger, business combination, joint venture or association.”
And it added: “As a result of this corporate restructuring process, and if any of these alternatives are implemented, the debtor company must have fresh resources of at least $6,000 million, which will allow it to have sufficient resources to cushion financial fluctuations, finance investments and, in general, consolidate the growth of the company in the market.”
MCP just expanded its business in early May when it signed an agreement with Leonidas Vial Claro to purchase the La Parva ski resort. Since 2023 he has been the majority partner of Valle Nevado.
Now, through its offer, it seeks to further strengthen its presence in the region.
“MPC views the El Colorado ski center as an excellent option for the development strategy in the region. With its experience and commitment to investment, it will allow the creation of a great tourist center, consolidating the most impressive ski destination in the southern hemisphere,” said MCP.
