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Accor announces to sponsor a corporate SPAC
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Posted by Hoteliersweb . - Filed in News - 890 views
Accor announces its intention to sponsor a corporate SPAC targeting activities adjacent to its core hotel business
Accor announces today its intention, subject to market conditions, to sponsor a Corporate Special Purpose Acquisition Company (SPAC), the Accor Acquisition Company (AAC), to be listed on Euronext Paris.
AAC aims to raise approximately €300m. Accor’s investment in AAC will not be material.
Accor’s objective in creating AAC is to better serve Accor’s hotel owners and customers by providing high quality and recognizeable services and brands in any of five verticals adjacent to Accor’s core hotel business, namely:
• food and beverage;
• flexible working;
• wellness;
• entertainment & events; and
• travel technology.AAC’s target company will benefit from Accor’s network, scale and global presence.
AAC will be led by Amir Nahai (fully dedicated Managing Director) and supported by three senior Accor executives: Pierre Boisselier (CFO), Nicolas Broussaud (CIO) and Besma Boumaza (Chief Legal Officer).
Accor will continue to be single-handedly focused on delivering its Reset cost savings plan, fully capturing the market rebound and profitably growing its asset light management and franchise hotel operations.
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