Accor Sells Stake in Club Mediterranee
10 Juni 2009 - 9:10AM
PR Newswire (US)
PARIS, June 10 /PRNewswire-FirstCall/ -- As part of its refocusing
strategy, Accor today sold 1,063,830 Club Mediterranee shares,
corresponding to around a 4% interest in the company's capital, to
Group Credit Agricole SA for EUR9.40 a share, representing a total
amount of EUR10 million. The transaction was carried out in
cooperation with Club Mediterranee management. Accor retains 98,800
Club Mediterranee shares, which will later be sold on the open
market. Accor, a major global group and the European leader in
hotels, as well as the global leader in services to corporate
clients and public institutions, operates in nearly 100 countries
with 150,000 employees. It offers to its clients over 40 years of
expertise in two core businesses: - Hotels, with the Sofitel,
Pullman, MGallery, Novotel, Mercure, Suitehotel, Ibis, all seasons,
Etap Hotel, Formule 1 and Motel 6 brands, representing 4,000 hotels
and nearly 500,000 rooms in 90 countries, as well as strategically
related activities, such as Lenotre; - Services, with 32 million
people in 40 countries benefiting from Accor Services products in
employee and public benefits, rewards and motivation, and expense
management. DATASOURCE: Accor CONTACT: MEDIA RELATIONS: Alain
Delrieu, Phone: +33-1-45-38-84-85; Aurelie Langevin, Phone:
+33-1-45-38-84-76. INVESTOR RELATIONS: Eliane Rouyer-Chevalier,
Senior Vice President, Investor Relations and Financial
Communication, Phone: +33-1-45-38-86-26; Olivia Testas, Investor
Relations, Phone: +33-1-45-38-86-33.
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