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Eurazeo: leaves Accor's capital

(CercleFinance.com) - Eurazeo has announced the sale, through its subsidiary Legendre Holding 19 SAS, of all of its 12,185,303 shares in Accor, representing 4.
2% of the group's capital, priced at 45.28 euros per share, meaning a total of 552 million euros.

At the end of the accelerated placement with institutional investors, the company will not hold any more Accor shares. This will raise approximately 535 million euros in cash for Eurazeo after tax and expenses related to the deal.

The investment company says that it will therefore have achieved a gross multiple of twice its initial investment in the hotel chain in May 2008, taking into account the sale of Edenred in March 2013.

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