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Clifford Chance advises Accor on the purchase of 86 hotels in Europe

2 September 2014

Clifford Chance advises Accor on the purchase of 86 hotels in Europe

International law firm Clifford Chance has advised Accor on the purchase of a portfolio of 86 hotels representing 11,286 rooms across Germany (67 hotels) and the Netherlands (19 hotels) operated by Accor since 2007 under variable-rent leases and under the following brands: ibis (29 hotels), ibis budget (31 hotels), Mercure (17 hotels) and Novotel (9 hotels). The total consideration for the acquisition is €722 million.

The majority sellers were two funds, Moor Park Fund I and II, advised by Moor Park Capital Partners, a pan-European real estate private equity investment advisory business.

The acquisition completed on 30 June 2014.

Clifford Chance advised Accor with a cross-border team comprising:

  • in Frankfurt, Sandra Thiel (partner), Uwe Schimmelschmidt (partner), Bettina Steinhauer (partner), Kristina Jaeger (counsel), Margret Bootz (associate), Carina Soesanto and Matthias Töke (associate);
  • in Düsseldorf, Marc Besen (partner), Cord von Mandelsloh (counsel) and Dimitri Slobodenjuk (senior associate);
  • in France, James Butters (partner), Alexandre Lagarrigue (partner), Marianne Pezant (counsel), Anne Vrignaud (counsel) and Maroussia Cuny (associate);
  • in Luxembourg, François-Xavier Dujardin (partner) and Claudie Grisius (partner);
  • in London, Jane Cheong Tung Sing (partner) and Heather Buttle (senior associate).