ODH enters agreement with Chairman Samih Sawiris for stake purchase in ASA

Orascom Development Holding (ODH) has entered an agreement to purchase an additional 1% and one share of Andermatt Swiss Alps (ASA) from ODH Chairman Samih Sawiris at a total price of CHF 3.2 mn, according to a company press release. The transaction, which is conditional on Sawiris forgiving CHF 150 mn in debt owed to him by ASA, would make ODH the majority shareholder in ASA by a margin of one share.