AccorHotels increases Orbis shares by 33%

AccorHotels has received the preliminary results of a tender offer for the remaining shares in Polish Hospitality group Orbis Hotel Group.

ription for approximately 15.3 million shares in Orbis at an offer price of PLN95.0, (£19) for a total consideration of PLN1, 450m (£296m) constituting approximately 33.1% of the share capital of Orbis.

Accor added the settlement of the shares will take place on January 28th. Following the settlement of the offer and subject to the final confirmation of the number of shares submitted by the investors it is estimated that AccorHotels will own, directly and indirectly, 85.8% of Orbis’ share capital.

In an online statement announcing the results Accor said: “AccorHotels strengthens the control on Orbis and consolidate its leadership in Central Europe. As announced on 26 November, the group shall explore options to crystallize the value of Orbis’ asset portfolio.”