Colony/Eurazeo: To Extend Accor Shareholder Pact To 2013
December 15 2009 - 12:44PM
Dow Jones News
Investment companies Colony Capital LLC (COLCAP) and Eurazeo SA
(RF.FR) Tuesday said they supported the decision of French hotel
and services group Accor SA's (AC.FR) board to approve a plan to
separate its two businesses and that they will extend their
shareholder pact until 2013.
Accor plans to demerge its hotels and prepaid services units
into two independent bourse-listed entities, each with its own
strategy and benefiting from the resources necessary for its own
development.
MAIN FACTS:
-Eurazeo and Colony Capital reaffirm their willingness to
provide lasting support for the two companies that will result from
this separation.
-In this context, they have decided, provided that the
separation of the two Accor businesses is completed, to extend the
provisions of the May 2008 shareholders agreement between them to
the shares of the two companies, until May 4, 2013.
-And they will extend under such shareholders agreement the
lockup undertaking on their shares in Accor and in the Prepaid
Services entity, until Jan. 1st, 2012.
By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
art.mooradian@dowjones.com.
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