A PLN 4.5 billion share sale agreement concluded by AccorHotels in connection with a tender offer for 100% of the shares in Orbis launched by AccorInvest

Rymarz Zdort, formerly Weil, Gotshal & Manges – Pawel Rymarz sp.k., advised AccorHotels on the execution of a share sale agreement and the launch of a tender offer by AccorInvest for the sale of 100% of the shares in Orbis, including the entire equity stake in Orbis held by AccorHotels (representing 85.6% of the votes at the general meeting of Orbis).

AccorInvest announced a tender offer for the sale of all of the shares in Orbis on 17 December 2019. The closing of the transaction is expected to take place by the end of March 2020. The value of AccorHotels’ shares in Orbis, calculated based on the price offered for the tendered shares, is PLN 4.55 billion, which amounts to approximately EUR 1.06 billion; the value of the entire tender offer, calculated based on the price offered for the tendered shares, is PLN 5.29 billion, which amounts to approximately EUR 1.23 billion.

The Rymarz Zdort core transaction team consists of Marcin Chyliński (Partner), Ewa Bober (Partner), Filip Leśniak (Counsel), Leszek Cyganiewicz (Associate), and Arkadiusz Karwala (Associate).

Orbis is the largest hotel group in the CEE region. It manages a portfolio of 128 hotels in 16 countries.

AccorHotels is a France-based international company that provides hotel services. It both manages franchises and is the owner of hotels, resorts and holiday properties. Accor operates in 100 countries, has 4,800 hotels in its portfolio, and employs 280,000 employees worldwide.

AccorInvest is the strategic investor, owner, and operator of the Accor Group of hotels. It operates in 26 countries and manages over 850 hotels.