Accor Sells Stake in Club Méditerranée

As part of its refocusing strategy, Accor today sold 1,063,830 Club Méditerranée shares, corresponding to around a 4% interest in the company’s capital, to Group Crédit Agricole SA for €9.40 a share, representing a total amount of €10 million.

The transaction was carried out in cooperation with Club Méditerranée management.

Accor retains 98,800 Club Méditerranée 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 Lenôtre; - Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and motivation, and expense management.