NEW YORK, February 19, 2021 – Proskauer, a leading international law firm, today announced that it advised world leading hospitality group Accor in the sale of a 1.5% stake in Huazhu Group Limited for €239 million. Accor will own a 3.3% stake in Huazhu following the sale.
This transaction is part of the ongoing, strategic alliance between both groups. In 2016, Proskauer assisted Accor in establishing that relationship and purchasing its existing interests in Huazhu. In 2019, the Firm advised Accor in the $451 million sale of a 5% stake in Huazhu.
Proskauer has represented Accor for more than 23 years in numerous transactions and other matters in North and South America, Europe, Asia and Australia with aggregate deal value of more than $10 billion.
The Proskauer global deal team was led by partner Jeff Horwitz, co-head of the Private Equity Real Estate Group and Hospitality, Gaming & Leisure Group, and partner Yuval Tal, co-head of the Hospitality, Gaming & Leisure Group and head of the Firm's Hong Kong and Beijing offices, and included Capital Markets partners Dan Forman (New York) and Peter Castellon (London) and Corporate partner Jeremy Leifer (Hong Kong).