Accor Sells Stake in Club Mediterranee
JUNE 10, 2009 - As part of its refocusing strategy, Accor today sold 1,063,830 Club Mediterranee shares, corresponding to around a 4% interest in the company's capital, to Group Credit Agricole SA for EUR9.40 a share, representing a total amount of EUR10 million.
The transaction was carried out in cooperation with Club Mediterranee management.
Accor retains 98,800 Club Mediterranee shares, which will later be sold on the open market.
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