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AccorHotels in talks to sell part of AccorInvest

AccorHotels said it is in discussion with potential investors for the partial divestment of the share capital of AccorInvest, confirming an earlier report.

The company expects to sign a deal before the end of 2017, but clarified that there is no certainty that an agreement will be reached at this stage. The company addressed the negotiations in a release about its agreement to buy Australian hotel company Mantra Group Ltd.

French asset manager Amundi, Los Angeles-based Colony NorthStar Inc., Singapore's sovereign wealth fund GIC and the Public Investment Fund of Saudi Arabia were reported to be among the investors "in the running" to buy the equity of AccorHotels' planned property business spinoff.