Archive for the Mantra Group Category

AccorHotels buys out Mantra in £695m deal

AccorHotels today announced the signature of an agreement with Mantra Group with the view to acquire all of the issued capital in the company by way of a scheme of arrangement to be approved by shareholders. Under the terms of the agreement, AccorHotels would offer AUD3.96 (£2.34) in cash for each Mantra share including any potential special dividend. In total, AccorHotels will pay AUD1.3bn (£695m). Mantra is one of Australia’s largest hotel and resort marketers and operators with 127 properties and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii. Sébastien Bazin, chairman

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