AccorHotels launches an offer for 100% of the Polish hotel operator Orbis

AccorHotels has announced its intention to launch a purchase offer for 100% of the Polish operator Orbis Hotel Group, where it already has a stake, to take control of 47.31% of the capital it does not have yet, for which it offers 442 million euros. euros If he manages to get 90%, he would start his exclusion from the Warsaw Stock Exchange.

Orbis, based in Warsaw (Poland), is the largest hotel operator in Central and Eastern Europe, which exclusively manages some of the brands of the French group in this region with investment in the firm. Its portfolio comprises 128 hotels, with a total offer of 21,000 rooms, spread over 16 countries.

Its assets are distributed in Bosnia and Herzegobina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Romania, Serbia, Slovakia and Slovenia, as well as Poland operating with brands such as Sofitel, Pullman, MGallery , Novotel, Mercure and ibis, among others.

The subscription period of the offer will start on December 17 and will run until January 18, 2019. In a statement, the French group has stressed that its unconditional offer of purchase includes a premium of 20% on the closing price of the day before the announcement, and 11% on the price of the last three months.

AccorHotels and Orbis signed their first commercial agreement 45 years ago. Since 2000, the gala company has been the largest shareholder of Orbis and has supported its expansion in Central Europe since 2014, recalls AccorHotels CEO Sebastian Bazin.

With this operation, AccorHotels wants to accelerate its positioning in this region by taking at least 90% of its capital and replicating its active asset management policy in other markets.