AccorHotels: reaches agreement to acquire Mövenpick
(CercleFinance.com) - AccorHotels has announced that it has reached an agreement with Mövenpick Holding and Kingdom holding to acquire Mövenpick Hotels & Resorts for 560 million Swiss francs (482 million euros), a deal that will be accretive as from the first year.
Mövenpick is present in 27 countries with 84 hotels (over 20,000 bedrooms), and has a particularly strong presence in Europe and the Middle East. It intends to open 42 hotels by 2021, including in the Middle East, Africa and Asia-Pacific.
This acquisition strengthens AccorHotels' presence in Europe and the Middle East. It is subject to approval by regulatory authorities and is expected to be completed in the second half of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Mövenpick is present in 27 countries with 84 hotels (over 20,000 bedrooms), and has a particularly strong presence in Europe and the Middle East. It intends to open 42 hotels by 2021, including in the Middle East, Africa and Asia-Pacific.
This acquisition strengthens AccorHotels' presence in Europe and the Middle East. It is subject to approval by regulatory authorities and is expected to be completed in the second half of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.