News

December 17th, 2019 Natixis Partners Real Estate has acted as financial advisor to AccorInvest on its acquisition of a 85.8% stake in Orbis S.A. from Accor, implying 100% equity value of c. EUR 1.25bn

Advised by Natixis Partners Real Estate and Bank of America, AccorInvest has entered into a binding agreement on December 16, 2019, to acquire a 85.8% stake in Orbis S.A. from Accor. The acquisition will be implemented by way of a public tender offer expected to be completed by the end of March 2020.

The tender offer will be launched at a price of PLN 115 per share and is conditional only upon the antitrust approval of the European Commission. AccorInvest intends to acquire up to 100% of the company’s share capital, representing a total equity value of c. EUR 1,245m.

Orbis is the owner and operator of 73 hotels and 14,000 rooms in 6 countries across Eastern Europe such as Poland, Hungary and Czech Republic. The hotels are operated under Management contracts with Accor, that will be renewed as part of the transaction.

This transaction allows AccorInvest to expand its European geographical footprint in very dynamic markets and to strengthen its portfolio in the economic and mid-range segments. After this acquisition, AccorInvest portfolio will comprise more than 900 hotels and more than 135,000 rooms.

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Transaction Team

bertrand geyer
managing director

joëlle harfouche
executive director

etienne gubert
vice president

sarah katz
analyst

Industry Group

laurent bigot
industry banker real estate & hospitality

 

Coverage

brice joubert
senior banker