PRESS RELEASE
9 December 2019

Proskauer Represents Accor In $451 Million Sale Of A 5% Stake In Huazhu

PR
Proskauer Rose LLP

Contributor

The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. Our top tier team of star trial attorneys, acclaimed transactional lawyers and exceptionally talented partners and associates have earned a reputation for the relentless pursuit of perfection and a dauntless pursuit of success.
December 6, 2019 (HONG KONG) – International law firm Proskauer advised long-time client Accor [ISIN: FR0000120404] in its agreement to sell an approximately 5% stake in Huazhu Group Limited [NASDAQ:HTHT] for $451 million
United States

December 6, 2019 (HONG KONG) – International law firm Proskauer advised long-time client Accor [ISIN: FR0000120404] in its agreement to sell an approximately 5% stake in Huazhu Group Limited [NASDAQ:HTHT] for $451 million. Accor will keep a stake of over 5% in Huazhu, and Accor's Chairman and CEO Sebastien Bazin will remain on the Huazhu board.

This transaction is part of the ongoing, strategic alliance between both groups. In 2016, we assisted Accor in establishing that relationship and purchasing its existing interests in Huazhu. Since then, the value of Accor's investment has increased by 450%.

Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in 4,900 hotels, resorts, and residences across 110 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years. Huazhu is a leading hotel operator and franchisor, operating more than 5,100 hotels with more than 500,000 rooms as of September 30, 2019. 

The Proskauer team advising Accor on this deal was led by partner Yuval Tal, who co-heads our Hospitality, Gaming & Leisure Group and manages our Hong Kong and Beijing offices, and New York-based partner Jeff Horwitz, who co-heads our Private Equity Real Estate and Hospitality, Gaming & Leisure Groups. The team also included partner Dan Forman, special M&A consultant Vivian Ho and associate Sara Park.

Contributor

The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. Our top tier team of star trial attorneys, acclaimed transactional lawyers and exceptionally talented partners and associates have earned a reputation for the relentless pursuit of perfection and a dauntless pursuit of success.
See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More