AccorHotels in talks to acquire the FCDE's stake in Groupe Noctis
AccorHotels and the FCDE (a French consolidation and business development fund) are in talks about acquiring the latter's minority interest in French events, hospitality and entertainment company Groupe Noctis.
The operation under consideration will be submitted to employee representatives for consultation.
Laurent de Gourcuff, Groupe Noctis chairman, chief executive and founder, said: "The fact that the FCDE invested in our equity encouraged our business and financial partners, helped us transform our governance, added a more professional edge to our group's management and opened the door to bank financing.
"Now we're starting a new, decisive chapter in our story, with AccorHotels' investment in our equity. It's the best partner to team up with to push ahead with our bold development plans, and we'll be able to share a leading group's expertise in serving upscale customers and extract synergies with their various business lines."
Sébastien Bazin, chairman and chief executive of AccorHotels, added: "We're very excited about teaming up with Groupe Noctis, which has come to rank among the leaders in a fiercely competitive environment in only a few years. It's more than an enviable address book: Laurent de Gourcuff and his teams have built a portfolio of distinctive venues with strong characters that are promoting Paris on the international scene. This alliance blends naturally into our plans to transform and boost AccorHotels with a view to catering to increasingly discerning customers' wants and needs beyond the travel universe."
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