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December 17, 2019

AccorInvest to acquire stake in hotel operator Orbis from Accor

AccorInvest has signed a binding agreement to acquire 85.8% stake in hotel operator Orbis from Accor in a transaction valued at €1.06bn.

AccorInvest has signed a binding agreement to acquire 85.8% stake in hotel operator Orbis from Accor in a transaction valued at €1.06bn.

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Orbis owns and operates 73 hotels and 14,000 rooms in six countries across Eastern Europe.

With the acquisition of Orbis, which will be implemented by way of a public tender offer, AccorInvest will be able to expand its European geographical footprint in dynamic markets.

The public tender offer is expected to be completed by the end of March next year.

AccorInvest will file the public tender offer with the Polish Financial Supervision Authority for all of the shares in Orbis’ share capital.

Furthermore, the company will be in a position to strengthen its portfolio in the economic and mid-range segments.

Following the acquisition of the hotel operator, the portfolio of AccorInvest will consist of more than 900 hotels and 135,000 rooms, for a total revenue of over €4bn.

AccorInvest CEO John Ozinga said: “We are thrilled to integrate Orbis which has a great portfolio of assets and a long-time expertise in real estate and lodging sectors across key markets such as Poland, Hungary and Czech Republic.

“This acquisition enables AccorInvest to reinforce its presence in Europe and confirm its position as the leading hotel owner & operator in Europe.”

Accor said in a statement: “Accor irrevocably committed to tender its 85.8% stake to the public tender offer, subject to antitrust clearance by the European Commission.”

The transaction is expected to close by the end of the first quarter of next year.

Last October, Accor acquired Orbis’ Management and Franchise business for €286m.

Related Companies

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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