AccorHotels announces achievement of key milestones with antitrust clearance of proposed acquisition of Fairmont Raffles Hotels International (France)
AccorHotels announces today that it has cleared all antitrust approvals in relevant jurisdictions, satisfying one of the closing conditions of the pending acquisition of Fairmont Raffles Hotels International. |
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AccorHotels announces achievement of key milestones with antitrust clearance of proposed acquisition of Fairmont Raffles Hotels International (France)
AccorHotels announces today that it has cleared all antitrust approvals in relevant jurisdictions, satisfying one of the closing conditions of the pending acquisition of Fairmont Raffles Hotels International. |
Category: Europe - France - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2016-04-27
As previously announced, the main next step to finalize this acquisition will be AccorHotels’ Extraordinary Shareholders meeting to approve reserved capital increase and Board representations for Qatar Investment Authority and Kingdom Holding. This meeting should be convened in the coming weeks. The transaction is expected to close mid-2016.
ABOUT ACCORHOTELS
AccorHotels is a Group united by a shared passion for hospitality and driven by a shared promise to make everyone Feel Welcome. Over 190,000 women and men in 3,900 AccorHotels establishments look after thousands of guests every day in 92 countries. AccorHotels is the world’s leading hotel operator and offers its customers, partners and employees: - its dual expertise as a hotel operator and franchisor (HotelServices) and a hotel owner and investor (HotelInvest); - a large portfolio of internationally renowned brands covering the full spectrum, with luxury (Sofitel, Pullman, MGallery, Grand Mercure, The Sebel), midscale (Novotel, Suite Novotel, Mercure, Adagio) and economy (ibis, ibis Styles, ibis budget, adagio access and hotelF1) establishments; - the strength of its marketplace and its Le Club AccorHotels loyalty program; - almost half a century of commitment to corporate citizenship and solidarity with the PLANET 21 program. Accor SA shares are listed on the Euronext Paris stock exchange (ISIN code: FR0000120404) and traded in the USA on the OTC market (Code: ACRFY)
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