Accor announces today it entered into a binding agreement to sell its 85.8% stake in Orbis to AccorInvest at a price of PLN115 per share, corresponding to proceeds for Accor of PLN4.55bn (€1.06bn), in line with Orbis' Gross Asset Value. This completes the Orbis transaction, following the acquisition by Accor of Orbis' Management and Franchise business last October for €286m.

This sale will be implemented by way of a public tender offer, which will be filed tomorrow by AccorInvest with the Polish Financial Supervision Authority for all of the shares in Orbis' share capital, at a price of PLN115 per share. The closing of the transaction is expected to take place by the end of the first quarter 2020.

Accor irrevocably committed to tender its 85.8% stake to the public tender offer, subject to antitrust clearance by the European Commission. Additionally, Accor irrevocably undertook that until the settlement date of the tender offer or the termination of the share purchase agreement, it will not tender its Orbis shares to any competing tender offer or withdraw its subscription to AccorInvest's tender offer, including, for the avoidance of doubt, in the event any such competing offer would be made for a higher price.

About Accor, a world-leading hospitality group

Accor is a world leading hospitality group offering experiences across more than 110 countries in 5,500 properties, 10,000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing more than 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion. Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit www.group.accor.com or follow us on X, Facebook, LinkedIn, Instagram and TikTok. 

Line Crieloue
Senior PR Manager Accor Luxury Brands
+33 1 45 38 18 11
Accor