Colony Capital and Eurazeo have welcomed the decision of Accor’s board of directors to approve the plan to separate the group’s two businesses, hotels and prepaid services, into two independent listed entities.
Each entity will have its own strategy and benefit from the resources necessary for its own development.
Eurazeo and Colony Capital have said they will provide lasting support for the two companies.
They have decided, provided that the separation of the two Accor businesses is completed, to extend the provisions of the May 2008 shareholders’ agreement between them to the shares of the two companies until 4 May 2013, and to extend under such shareholders’ agreement the lock-up undertaking on their shares in Accor and in the prepaid services entity until 1 January 2012.
Investment company Eurazeo is the majority or leading shareholder in Accor, ANF, APCOA, B&B Hotels, Elis, Europcar and Rexel.
Colony Capital is a private international investment firm focusing primarily on real estate-related assets, securities and operating companies.
