IFLR1000

AccorHotels $2.9 billion acquisition of Fairmont/Raffles/Swissôtel

12/6/2016
Private acquisition
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$ 2.9 billion

Announced

12/6/2016

Overview:

  • French hotel group AccorHotels has acquired luxury hotel brands Fairmont, Raffles and Swissôtel from parent company FRHI. 
  • As well as a cash payment of $840 million, AccorHotels has issued 47 million new shares and offered Qatar Investment Authority and Kingdom Holding Company 10.5% and 5.8% of the share capital respectively. 
  • The total sale amount is approximately $2.6 billion. 
  • The portfolio consists of a collection of 155 hotels and resorts, 40 of which are under development. 
  • Deutsche Bank Securities and Morgan Stanley & Co are acting as financial advisers to FRHI.

John Crabb - Journalist

Jurisdictions:

United States
China
Singapore
France
United Kingdom
Qatar

Deal type:

Private acquisition

Practice area:

M&A

Industry sectors:

Real estate
Tourism

Firms:
Darrois Villey Maillot Brochier

Party: AccorHotels (Acquirer)

Lawyers: Benjamin Burman (left the firm), Hugo Diener, Jean-Baptiste de Martigny, Marcus Billam

McCarthy Tétrault

Party: FRHI Holdings (Target)

Lawyers: David Woollcombe, Godyne Sibay, Gordon Baird, Lara Nathans

Proskauer Rose

Party: AccorHotels (Acquirer)

Lawyers: Daniel Ganitsky, Jeffrey Horwitz, Yuval Tal

Shook Lin & Bok

Party: AccorHotels (Acquirer)

Lawyer: David Chong

White & Case

Party: Qatar Investment Authority (QIA) (Shareholder)

Party: Kingdom Holdings Ltd (Shareholder)

Party: FRHI Holdings (Target)

Lawyers: Franck De Vita, François Leloup, Oliver Brahmst

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