AccorHotel: up another 1% after mantra group takeover.
(CercleFinance.com) - The AccorHotel stock is continuing to rise, up 1% this morning.
Broker Bryan Garnier has confirmed its buy rating on the stock, with a target price of 49.5 euros, after the group confirmed its acquisition of Mantra Group.
Mantra Group this morning confirmed its acquisition by AccorHotel. The offer has been made based on a price of 3.96 euros per share, which represents a total amount of 774 million euros, with net debt of 48 million euros at the end of the financial year 2017.
Mantra Hotels is present in Australia, New Zealand, Indonesia and Hawaii. It has three brands; Peppers, Mantra and BreackFree.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Broker Bryan Garnier has confirmed its buy rating on the stock, with a target price of 49.5 euros, after the group confirmed its acquisition of Mantra Group.
Mantra Group this morning confirmed its acquisition by AccorHotel. The offer has been made based on a price of 3.96 euros per share, which represents a total amount of 774 million euros, with net debt of 48 million euros at the end of the financial year 2017.
Mantra Hotels is present in Australia, New Zealand, Indonesia and Hawaii. It has three brands; Peppers, Mantra and BreackFree.
Copyright (c) 2017 CercleFinance.com. All rights reserved.