Accor Acquisition Company raised €300 million via a private placement of Units.
Accor Acquisition Company (AAC), a Special Purpose Acquisition Company (SPAC) sponsored by Accor, has raised €300 million; in a private placement of Units to be listed on Euronext Paris, for the purpose of acquiring businesses active in sectors adjacent to Accor’s core hospitality business, including Food and Beverage, Flexible Working, Wellness, Entertainment & Events and Travel Technology.
With this successful placement, we are proud that Accor Acquisition Company has become the first European listed corporate SPAC. The success of this innovative transaction demonstrates the quality of our project and the team behind it, the confidence of investors in our ability to create value and the attractiveness of the Paris financial market. This new vehicle will enable us to continue to expand the Accor ecosystem beyond the hotel room. The AAC teams will now devote their energy and talent to identifying and partnering with recognized companies which will benefit from Accor's size, network and influence. These products, services and brands will also be highly attractive to our hotels’ owners and guests.
Sébastien Bazin, Accor’s Chairman and CEO and AAC’s Chairman
First trading in the Units under the symbol “AAC” (as “promesses d’Unités” on a trading line entitled “Accor AC Promesses d’Unités”) will begin on 1 June 2021 at 9.00 CET. The start of unconditional trading in the Units will take place on the Settlement Date which is expected to be on 2 June 2021. No later than three trading days after the end of the stabilisation period, the Market Shares and the Market Warrants will detach and trade separately on the professional segment of the regulated market of Euronext Paris, under the symbols “AAC” and “AACW” respectively.
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