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Accor
Accor Confirms its Commitment to Poland by Raising its Stake in the Orbis Group to 50%
September 26th, 2008
As part of its hotel development strategy in Central Europe, a market with very strong growth potential, Accor has announced that it has raised to 50.01% its holding in the Orbis group, which is listed on the Warsaw Stock Exchange. Accor, which had held a 45.48% share in the company since August 2007, recently acquired an additional 4.53% stake at a price of PLN 55.4 per share, representing a total investment of approximately 35 million euros. A formerly state-owned company that was eventually privatized in 2000, Orbis is Poland's historic leading hotel operator, with a portfolio of 62 hotels (12,000 rooms), including 42 operated under the Sofitel,...
Source: Health Business Week (2008-09-26)
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