Accor: sells 85.8% stake in Orbis to AccorInvest
(CercleFinance.com) - Accor announces an agreement to divest its 85.
8% stake in Orbis to AccorInvest at a price of 115 zlotys per share, for a total of 4.55 billion zlotys (1.06 billion euros)
This agreement comes following Accor's acquisition of Orbis' Management and Franchise business for 286 million euros last October.
This sale will take the form of a takeover bid, which will be filed by AccorInvest today, Tuesday, with the Polish Financial Supervisory Authority. It will cover all Orbis' shares, at a price of 115 zlotys per share.
The transaction is set to be completed by the end of Q1 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8% stake in Orbis to AccorInvest at a price of 115 zlotys per share, for a total of 4.55 billion zlotys (1.06 billion euros)
This agreement comes following Accor's acquisition of Orbis' Management and Franchise business for 286 million euros last October.
This sale will take the form of a takeover bid, which will be filed by AccorInvest today, Tuesday, with the Polish Financial Supervisory Authority. It will cover all Orbis' shares, at a price of 115 zlotys per share.
The transaction is set to be completed by the end of Q1 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.