Print Edition - 2017-10-10  |  Money Digest

AccorHotels bids for Australia’s Mantra

- AFP, SYDNEY

Oct 10, 2017-

France’s AccorHotels has made a Aus$1.17 billion (US$910 million) bid for one of Australia’s biggest hotel operators, the Mantra Group, the local company said Monday in a move that sent its share price soaring. Mantra, which operates more than 20,000 rooms in Australia, New Zealand and Indonesia, said it had received an offer of Aus$3.96 cash per share, valuing the firm at Aus$1.17 billion. “Mantra has granted Accor access to due diligence to determine if a transaction can be agreed and recommended unanimously by the Mantra board,” the Australian-listed company said in a statement. “The discussions are incomplete and any entry by the parties 

into binding transaction documents remains subject to a number of conditions.” 

Published: 10-10-2017 10:35

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