AccorHotels: sells almost 60% of AccorInvest's capital
(CercleFinance.com) - AccorHotels on Thursday announced the final sale of 57.
8% of AccorInvest's capital to the sovereign funds, Public Investment Fund (PIF) and GIC, institutional investors, Colony NorthStar, Crédit Agricole Assurances and Amundi, and other private investors.
This deal will raise total gross cash of 4.6 billion euros for AccorHotels.
Following this sale, AccorHotels will hold 42.2% of AccorInvest's capital, which is to be deconsolidated from the group's accounts as of 1 June 2018.
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said: “The deal enables us to further accelerate the development of AccorHotels by focusing our resources and energy on strengthening our brand portfolio and our leadership position in key markets, and on pursuing our strategy of delivering innovation and excellence to our guests and hotel owner partners.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% of AccorInvest's capital to the sovereign funds, Public Investment Fund (PIF) and GIC, institutional investors, Colony NorthStar, Crédit Agricole Assurances and Amundi, and other private investors.
This deal will raise total gross cash of 4.6 billion euros for AccorHotels.
Following this sale, AccorHotels will hold 42.2% of AccorInvest's capital, which is to be deconsolidated from the group's accounts as of 1 June 2018.
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said: “The deal enables us to further accelerate the development of AccorHotels by focusing our resources and energy on strengthening our brand portfolio and our leadership position in key markets, and on pursuing our strategy of delivering innovation and excellence to our guests and hotel owner partners.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.