Ac­corHo­tels to buy Mantra for $1 bn

Oman Daily Observer - - FRONT PAGE -

PARIS: France’s Ac­corHo­tels said on Thurs­day it has reached a deal to buy Aus­tralian ho­tel op­er­a­tor Mantra for 900 mil­lion euros ($1 bil­lion), in a move that will strengthen its “long-term grown in the Asia Pa­cific re­gion”.

The agree­ment, yet to be ap­proved by Mantra share­hold­ers, will see the Aus­tralian op­er­a­tor’s shares sold at AUD$ 3.96 (2.7 euros, $3.1) each, Ac­corHo­tels said in a state­ment.

“Ac­corHo­tels will pay AUD$ 1.3 bil­lion, equiv­a­lent to 0.9 bil­lion” euros, the French ho­tel giant said.

Mantra put the fig­ure at slightly lower — AUD$ 1.25 bil­lion, in­clud­ing debt. — AFP

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