AccorHotels: strategic partnership with SBE
(CercleFinance.com) - AccorHotels announces that it has signed a letter of intent and entered into exclusive negotiations for the acquisition of a 50% stake in sbe Entertainment Group for 125 million dollars.
In addition, it will participate (194 million dollars) in the issue of a preferential debt instrument to repay an existing preferential debt. AccorHotels will thus make a total investment of 319 million dollars in this deal.
This partnership will enable the French group to strengthen its current network in major North American cities. This transaction is subject to regulatory approvals, and should be finalised by 31 July.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In addition, it will participate (194 million dollars) in the issue of a preferential debt instrument to repay an existing preferential debt. AccorHotels will thus make a total investment of 319 million dollars in this deal.
This partnership will enable the French group to strengthen its current network in major North American cities. This transaction is subject to regulatory approvals, and should be finalised by 31 July.
Copyright (c) 2018 CercleFinance.com. All rights reserved.