AccorHotels: joint takeover of Atton Hoteles
(CercleFinance.com) - AccorHotels and the Chilean Company Algeciras have announced reaching an agreement with Atton Hoteles' shareholders regarding the company's takeover, a deal that is subject to regulatory authorisations, which is set to be finalised in the second half of 2018.
Under this agreement, AccorHotels will acquire 100% of the management company that operates the 11 Atton hotels (2,259 rooms) and will acquire 20% of the real estate company that holds these assets, with the remaining 80% being bought by Algeciras.
This acquisition will cost AccorHotels a total of 105 million dollars. The deal will strengthen the group's network in Latin America and will have an accretive effect from the first year.
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Under this agreement, AccorHotels will acquire 100% of the management company that operates the 11 Atton hotels (2,259 rooms) and will acquire 20% of the real estate company that holds these assets, with the remaining 80% being bought by Algeciras.
This acquisition will cost AccorHotels a total of 105 million dollars. The deal will strengthen the group's network in Latin America and will have an accretive effect from the first year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.