Accor SA (ENXTPA:AC) signed an agreement to acquire Mövenpick Hotels & Resorts Management AG from Mövenpick Holding AG and Kingdom Holdings Company (SASE:4280) for CHF 560 million on April 30, 2018. Consideration will be paid in cash. The transaction is subject to regulatory approvals and is expected to be completed during the second half of 2018.

The transaction will have an accretive impact on the earnings of Accor SA from the first year. Lazard Freres acted as financial advisor to Accor SA. Pierre-Yves Chabert, Flora Faby, Thomas Bres Pintat, Emmanuel Ronco, Xuyang Zhu, Hannah Rogers, François-Charles Laprévote, Séverine Schrameck, Oliver Schröder, Romina Polley, Julian Alexander Sanner, Silke Jurczyga, Roman van den Busch, Elizabeth Macher and Sarah Ait Benali of Cleary Gottlieb along with Jean-Philippe Brillet, Stephanie Dodin, Robin Gaulier, Juerg Niederbacher, Christian Tempich and Mohand Al-Ansari of PwC Société d'Avocats acted as legal advisors, Christian Tempich (Germany), Mohand Al-Ansari (Dubai) and Juerg Niederbacher of PwC Switzerland acted as tax due diligence advisors while Gilbert Fayol, Eric Doucet, Nicolas Sebag, Fabien Richard, Bei Wang of Deloitte acted as financial due diligence advisors to Accor SA.

Martin Furrer, Pascal Richard, Alexander Wyss, Mario Kumschick, Manuel Meyer, Boris Wenger, Julia Schieber, Helena Hauser and Ramon Tissafi of Baker & McKenzie (Zurich) acted as legal advisors to Mövenpick Holding and Kingdom Holdings. Rothschild & Co SCA acted as financial advisors to Mövenpick Holding. Betts, Megan, Brown, Greg, Challen, Lydia, Leckie, Elizabeth, Lewis, Dave, Myers, Ben, Ponchione, Marc, Wei and Yanmei of Allen & Overy acted as legal advisor to Kingdom Holding Company (SASE:4280).

Khoshaim & Associates acted as a legal advisor to Mövenpick Holding AG.