AAC aims to raise approximately €300m. Accor’s investment in AAC will not be material.
Accor’s objective in creating AAC is to better serve Accor’s hotel owners and customers by providing high quality and recognizeable services and brands in any of five verticals adjacent to Accor’s core hotel business, namely:
• flexible working;
• entertainment & events; and
• travel technology.
AAC’s target company will benefit from Accor’s network, scale and global presence.
AAC will be led by Amir Nahai (fully dedicated Managing Director) and supported by three senior Accor executives: Pierre Boisselier (CFO), Nicolas Broussaud (CIO) and Besma Boumaza (Chief Legal Officer).
Accor will continue to be single-handedly focused on delivering its Reset cost savings plan, fully capturing the market rebound and profitably growing its asset light management and franchise hotel operations.
DisclaimerThis press release is for information purposes only. It does not constitute a prospectus or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities.
If and when an offer is launched, further details about the offer and the admission on Euronext Paris, if applicable, will be included in a prospectus approved by the French Autorité des Marchés Financiers (AMF), which will be published and made available at no cost at the start of the offer period through the corporate website of AAC, subject to securities law restrictions in certain jurisdictions.
This announcement may include statements that are, or may be deemed to be, ''forward-looking statements''. Certain statements contained herein are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Accor. Due to various risks and uncertainties. actual results may differ materially from those reflected or expected in such forward-looking statements or forecasts. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed.
This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, the United States, Canada, Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.