Monthly M&A Insider - Mergermarket

Deal of the month
Target: Groupe Lucien Barriere SAS (15% stake) Announced: 31/03/2009
Bidder: Accor SA Deal value: €153m
Seller: Colony Capital LLC Deal nature: Exit
• Accor SA, the listed France based operator of hotels
and provider of corporate and tourism services, has
agreed to acquire a 15% stake in Groupe Lucien
Barriere, the French hotel and casino operator, from
Colony Capital LLC, the US based private equity firm
with focus on real estate-related assets and operating
companies, for a consideration of €153m.
France
• With this acquisition, Accor will increase its stake in
Lucien Barriere from 34% to 49%. Since January 2004,
Colony Capital had an option to sell its 15% stake in
Lucien Barriere to Accor. In November 2008, Colony
Capital announced its intention to start the valuation
process. Post acquisition Accor’s net debt would be
€270m based on the proportional consolidation of 49%
of Lucien Barriere’s debt in the second half of 2009.
Advisers
Target/seller Bidder
Financial - Financial Goldman Sachs
SG
BNP Paribas
Lazard
CIBC World Markets
Legal - Legal -
PR - PR -
Monthly M&A Report – 122