Accor Sells Italian Food Services
AUGUST 1, 2007. As part of the disposal of its non-strategic assets, and as presented during its 2006 yearly results, Accor announces the sale of its Italian food services business to Barclay's Private Equity for 135 million euros. In 2006, this business contributed 312.3 million euros to Accor's consolidated revenue.
The disposal of the non-strategic Italian food services assets is part of the strategy of refocusing on Accor's two core businesses, Services and Hotels. In line with the commitment to optimizing the Group's financial structure, proceeds from the sale will be returned to shareholders.
Accor, the European leader in hotels and tourism, and a global leader in corporate services, operates in nearly 100 countries with 166,000 employees. It offers to its individual and corporate clients 40 years of expertise in its two core businesses:
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Hotels, with the Sofitel, Novotel, Mercure, Suitehotel, Ibis, All Seasons, Etap Hotel, Formule 1 and Motel 6 brands: around 3.800 hotels and 450,000 rooms in 90 countries, as well as strategically related activities, such as Lenotre;
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Services to corporate clients and public institutions: 23 million people in 35 countries benefit from Accor Services products (human resources, marketing services, expense management).
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