Key Developments: Accor SA (ACCP.PA)

ACCP.PA on Paris Stock Exchange

19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Accor SA and China Lodging Group Ltd forms strategic alliance
Sunday, 14 Dec 2014 10:45am EST 

Accor SA and China Lodging Group Ltd:Says that it has signed binding documents on Dec. 14, 2014 in Paris, France, to join forces in the Pan-China region to develop Accor brands and to form an extensive and long-term alliance.Says the transaction is expected to close upon completion of anti-trust review, legal restructuring and other closing conditions.Says this alliance will combine the strengths of Accor's global brands and network with China Lodging Group's extensive coverage and strong development capability in China.  Full Article

Accor acquires French start-up Wipolo
Thursday, 30 Oct 2014 02:30am EDT 

Accor SA:Announces acquisition of French start-up Wipolo, which has developed a “travel companion” app.  Full Article

Accor offers to transfer management of its Central European operations to Orbis
Tuesday, 21 Oct 2014 01:45am EDT 

Accor SA:Says it submitted an offer to Orbis, a public company listed in Warsaw and 52.7 pct held by Accor, which would make Orbis its management platform for Central and Eastern Europe.Under the terms of the offer, which was approved by Accor’s board of directors, Orbis would take over all of the Group’s operations in the region, including in Poland, Hungary, the Czech Republic, Slovakia, Romania, Bulgaria and Macedonia.Orbis would have the capacity to develop all of Accor’s hotel brands in the region by exploiting a master license for all of the Group’s brands.Accor is inviting Orbis to acquire its operating subsidiaries in these countries.They include 38 existing hotels and 8 hotels currently in the pipeline.The amount of the considered transaction is 142 million euros.The offer provides for an exclusivity of negotiations until the end of November.  Full Article

Accor confirms FY 2014 EBIT target
Thursday, 16 Oct 2014 11:51am EDT 

Accor SA:Confirms its EBIT target of between 575 and 595 million euros for FY 2014.FY 2014 EBIT 585.16 million euros-Thomson Reuters I/B/E/S Estimates.  Full Article

Accor increases its 7-year bond issue by 150 mln euros
Tuesday, 23 Sep 2014 09:15am EDT 

Accor SA:Increases its 7-year bond issue by 150 million euros.Says new nominal of bonds to increase to 900 million euros.  Full Article

Accor SA subsidiary acquires 13 hotels in United Kingdom
Tuesday, 26 Aug 2014 01:20am EDT 

Accor SA:Announces that its subsidiary, Hotelinvest, acquired a portfolio representing 13 hotels, for a total amount of 89 million euros in the United Kingdom.  Full Article

Accor places 900 million perpetual hybrid bond issue
Monday, 23 Jun 2014 11:45am EDT 

Accor SA:Places issue of perpetual hybrid bonds for 900 million euros.Securities have no maturity date, but are first callable as from June 30, 2020.They will pay return of 4.125 pct until that date, with rate reset every 5 years thereafter.Barclays, BNP Paribas and Citi acted as Global Coordinators and Structuring Advisors.Bank of America Merrill Lynch, Bank of Tokyo Mitsubishi, Banca IMI Barclays, BNP Paribas, Citi, HSBC, Santander GBM, SG CIB and UBS acted as Joint Lead Managers and Bookrunners.Issue was subscribed more than 5 times final placement.  Full Article

Accor issues 150 million Swiss franc bond
Tuesday, 17 Jun 2014 11:45am EDT 

Accor SA:Sets terms of eight-year bond inaugural issue for 150 million Swiss francs.Annual coupon:1.75 pct.UBS and Commerzbank acted as joint bookrunners.  Full Article

Accor announces 1.8 billion euro syndicated line of credit
Thursday, 12 Jun 2014 02:23pm EDT 

Accor SA:Announces 1.8 billion euro syndicated line of credit with group of 18 banks.New facility replaces the 1.5 billion euro undrawn syndicated credit facility signed in May 2011, which was scheduled to expire in May 2016.Credit Agricole Corporate and Investment Bank, BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ LTD and Commerzbank AG acted as global coordinators for Accor.Societe Generale was appointed as facility agent.  Full Article

Fitch maintains Accor long- and short-term ratings-Reuters
Wednesday, 11 Jun 2014 08:00pm EDT 

Accor SA:Fitch Ratings maintains Accor long-term rating at 'BBB-' and short-term rating at 'F3'; outlook stable - Reuters.According to Fitch, decision is motivated by diversity and quality of Accor brands.  Full Article


France's Accor eyes earnings boost from China deal

PARIS - French hotel operator Accor said on Monday its strategic alliance with China Lodging Group will boost earnings after the first year and help quicken its expansion in the fast-growing Chinese domestic travel and hospitality market.

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