Accor announced that it has signed a binding agreement with AccorInvest regarding the sale of its 85.6% stake in Orbis, at a price of PLN 115 per share, corresponding to a total transaction value of EUR 1.06 billion. The sale will be carried out through a tender offer for all Orbis shares.
AccorInvest notified the Polish Financial Supervision Authority (KNF) of the above on December 17, 2019. Accor planned to complete the transaction by the end of the first quarter of 2020.
AccorInvest is a hotel investor, owner and operator of a real estate portfolio, present in 26 countries with 857 hotels managed by Accor. The group invests in consolidating its property portfolio through renovations and new hotel developments in Europe.
Source: AccorHotels
Frequently Asked Questions
What is the value of the transaction between Accor and AccorInvest?
The transaction is valued at EUR 1.06 billion, representing the sale of Accor’s 85.6% stake in Orbis at PLN 115 per share.
When was the deal expected to be finalized?
Accor aimed to complete the transaction by the end of the first quarter of 2020.
What is AccorInvest’s presence in the hotel market?
AccorInvest operates in 26 countries with a portfolio of 857 hotels managed by Accor, focusing on European growth and renovations.