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Poland, France's Accor offers Orbis hotels in Central Europe

Possible transaction: 142 million euros, including 46 hotels

21 October, 18:11

(ANSA) - TRIESTE - France-based hotel giant Accor hotel has submitted to the Poland's major hotel group, Orbis, an offer for the acquisition of a ''network of 46 hotels, all located in Central Europe'', now owned by Accor. According to a press release issued by Orbis, ''within this offer ''the Polish company would take ''control of Accor's portfolio'' in Hungary, Czech Republic, Romania and Poland, which today includes ''38 hotels'' already operational and eight that have still to be built, all operating under the Accor brands (Sofitel, Pullman, MGallery, Novotel, Mercure, Ibis, Ibis budget). The total price requested by Accor to close the deal is about 142 million euros. According to Orbis, the offer ''fitted in'' with the strategy of the Polish player, but before reaching the final agreement, the company based in Warsaw will undertake a thorough analysis in order to evaluate every aspect of the possible transaction. A deadline of 30 November was set for the final decision. Accor, operating in 92 countries with 3,200 hotels, has been among Orbis's strategic partners since 2000 and majority shareholder since 2006. Orbis currently has about sixty hotels in Poland, Latvia and Lithuania. (ANSA).

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