The investment company announced the withdrawal of its stake in AccorHotels group.
Eurazeo acquired a stake in AccorHotels in 2005 and decided to sell all of its remaining 4.2% stake in AccorHotels. This represents more than 12 million shares or 550 million euros.
The announcement comes at a time when AccorHotels initiated the sale of 55% of AccorInvest, its real estate division, bringing it through a key stage in its transformation.
Together with Colony Capital, Eurazeo had been a key shareholder of the group, with up to 30% of AccorHotels' capital. The company has also contributed to the Group's transformation for more than ten years, as Virginie Morgon, Chief Executive Officer of Eurazeo, points out: “the 100% refocusing on the hotel business with active work on all brands, major acquisitions in luxury goods and international markets, the strengthening of leadership in Europe, Latin America and positions in Asia-Pacific, the ongoing digitalization and, as recently announced by Sébastien Bazin, the sale of a majority stake in AccorInvest."
Patrick Sayer, Chairman of Eurazeo's Management Board, added: "Sébastien Bazin, first of all a shareholder alongside Eurazeo at Colony, and since 2013 President of AccorHotels, has been leading the teams and the group with talent and success. He has every confidence in me to continue this wonderful adventure."