Accor Finalizes Orbis Buy
French hospitality company to own 85.84% of the Warsaw-based hotel operator
Investors have submitted 15.3 million shares in Warsaw-based Orbis at an offer price of $25.09 for a total consideration of $383.7 million, representing 33.15% of the company. The intention to take over the majority of Orbis was first announced in November.
Following the settlement of the offer on Jan. 28, Paris-based AccorHotels will own, directly and indirectly, 85.84% of Orbis’ share capital.
Orbis is one of the largest hotel operators in Central and Eastern Europe and the exclusive master franchisee of certain AccorHotels brands in the region. Its portfolio has 128 hotels with 21,000 rooms in 16 countries under the Sofitel, Pullman, MGallery, Novotel, Mercure, ibis, ibis Styles and ibis budget brands.
Photo of ibis Styles Wrocław guestroom: Courtesy of Orbis