AccorHotels has finalized the sale of 57.8% of AccorInvest’s capital to sovereign wealth funds Public Investment Fund (PIF) and GIC, institutional investors Colony NorthStar, Credit Agricole Assurances, and Amundi, and other private investors.
For AccorHotels, the transaction results in a gross cash contribution of €4.6 billion.
Thus, AccorHotels will hold 42.2% of AccorInvest’s capital, which will no longer be included in the Group’s consolidated financial statements starting June 1, 2018.
As part of the transaction, AccorHotels and AccorInvest will maintain their close and long-standing relationship through very long-term partnership agreements.
Source: Profit
Frequently Asked Questions
Who purchased the AccorInvest shares?
The shares were acquired by sovereign wealth funds PIF and GIC, institutional investors Colony NorthStar, Crédit Agricole Assurances, Amundi, and other private investors.
How much did AccorHotels receive from this transaction?
AccorHotels received a gross cash contribution of €4.6 billion for the 57.8% stake in AccorInvest.
What stake does AccorHotels still hold in AccorInvest?
Following the completion of the sale, AccorHotels retains a 42.2% interest in AccorInvest’s capital.