Five institutional investors are poised to acquire part of AccorHotels' property arm, AccorInvest, as the French hotelier finalizes its €6.6 billion plan to split up its business, the London Financial Times reported, citing people familiar with the talks.
The investors lined up for the deal, which is expected to be announced before the company releases its full-year results later in February, include two French groups; asset manager Amundi; and insurance company Predica, which is part of Crédit Agricole, the publication noted, citing two people familiar with the situation. Also expected to acquire stock in AccorInvest are Los Angeles-based Colony NorthStar Inc., Singaporean sovereign wealth fund GIC and the Public Investment Fund of Saudi Arabia, the report added.
