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AccorHotels completes capital sale in AccorInvest for €4.6B

AccorHotels completed the sale of 57.8% of the capital of AccorInvest SAS for a gross total of €4.6 billion.

The purchasers include Public Investment Fund of Saudi Arabia, Singaporean sovereign wealth fund GIC Pte. Ltd., diversified real estate investment trust Colony NorthStar Inc., bank insurer Crédit Agricole Assurances SA, French asset manager Amundi SA, and other private investors.

The French hotel company expected to receive €4.4 billion when it first announced its plans to divest a 55% stake in February.

AccorHotels will now hold 42.2% of the capital of AccorInvest, which will not be included in the company's consolidated financial statements as of June 1.