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AccorHotels nearing final deal for partial sale of AccorInvest

AccorHotels is nearing a final agreement for the partial sale of AccorInvest's share capital after receiving various detailed confirmations of interest from French and foreign investors.

The company confirmed in October that it was in talks with potential investors for the sale of a stake in the the property business spinoff. French asset manager Amundi, Los Angeles-based Colony NorthStar Inc., Singaporean sovereign wealth fund GIC and the Public Investment Fund of Saudi Arabia were understood to be among the interest parties.