© Reuters. EURAZEO CLICKS out OF the CAPITAL Of ACCORHOTELS
PARIS (Reuters) – Eurazeo (PA:EURA) announced on Tuesday to have sold all of its interest in AccorHotels (PA:ACCP), representing 4.2% of the share capital of the number one european hotel.
The investment company says in a press release that the investment of such participation is made with institutional investors and, at the conclusion of the operation, it no longer holds any title to AccorHotels.
It specifies that this transfer was carried out at a price of 45,28 € per share, i.e. a total amount of 552 million euros.
The bank Goldman Sachs (NYSE:GS) was in charge of the investment.
Eurazeo was entered the capital of Accor in 2008, in conjunction with the fund’s Colony. The latter came out of the capital of AccorHotels in February 2017.
AccorHotels has engaged the end of February the transfer of a majority of the share capital of its subsidiary real estate AccorInvest, marking a key step in its transformation plan.
The group, which announced its project in 2016 and wanted to complete in mid-2017, eventually reaching an agreement on the sale of 55% of its north pole real estate to a group of investors for 4.4 billion euros.
(Matthieu Protard and Dominique Vidalon, edited by Dominique Rodriguez)