Accor SA (ACCP.PA)
28 Apr 2017
Latest Key Developments (Source: Significant Developments)
Accor SA:Acccorhotels says Accorhotels to acquire three iconic hotel brands - Fairmont, Raffles and Swissôtel.Acccorhotels says will pay for the acquisition by issuing 46.7 million new Accor shares and a cash payment of $840 million.Acccorhotels says Qatar Investment Authority and Kingdom Holding Company of Saudi Arabia to become major shareholders, with 10.5% and 5.8% of the share capital respectively.Acccorhotels says transaction will be accretive to earnings per share from the second year with 65 million euros in revenue and cost synergies identified in the medium term. Full Article
Accor SA:Confirms full-year 2015 EBIT target of 655-675 million euros.FY 2015 EBIT: 662.95 million euros - Thomson Reuters I/B/E/S. Full Article
Fonciere des Regions SA:Renews its partnership with AccorHotels.The agreement concluded between Foncière des Régions and Accorhotels has two real estate components.The first is the extension of the term of 80 hotel leases (initially expiring in 2017 and 2018) for a further period of 12 years on the same rental terms.Has also undertaken to sell to Hotelinvest, a subsidiary of Accorhotels, a portfolio of 43 hotels for 281 million euros, or about 20 percent of the group share of the Accor portfolio owned by Foncière des Régions. Full Article
Accor SA:Sets the terms of an 8 year bond issue for an amount of 500 million euros with an annual coupon of 2.375 pct. Full Article
PARIS, April 20 AccorHotels, Europe's biggest hotel group, flagged signs of a turnaround in its French home market with a jump in first-quarter occupancy rates while brisk business in Germany and Britain also helped to lift revenue.