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Covivio Hotels — M&A Activity 2011
Jan 13, 2011
1223_iss_2011-01-13_098f068c-d291-4f1d-b795-fd479cdabd25.pdf
M&A Activity
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Press release
Predica and Foncière des Murs confirm the acquisition of a hotel portfolio from Accor
Paris, 13 January 2011 —Predica, a subsidiary of Crédit Agricole Assurances, and Foncière des Murs have finalised their acquisition of a portfolio of hotels from the Accor group, in line with the memorandum signed in August 2010.
The portfolio of 49 properties comprises 32 hotels in France, 10 in Belgiumand 7 in Germany. To date 43 of the hotels have been acquired, and the remaining six will be purchased in the course of 2011. The total transaction is worth 378.4 million euros.
This partnership between Accor, Predica and Foncière des Murs is consistent with each company's investment strategy.
About Crédit Agricole Assurances
The Group is now the European leader in bancassurance. Crédit Agricole Assurances handles all the Group's French and foreign insurance activities. Crédit Agricole Assurances was set up in January 2009, and comprises Predica, a personal insurer, Pacifica, specialised in non-life insurance, CACI for creditor insurance, the international insurance activity, and Crédit Agricole Assurances Gestion, Informatique et Services (Caagis), formed on 1 January 2010.
Key figures for Crédit Agricole Assurances (at 31 December 2009) - €25.9 billion in premiums - €203 billion in underwriting reserves - €951 million in net income, Group share - 2,700 employees
About Foncière des Murs
Foncière des Murs SCA, a subsidiary of Foncière des Régions, is a listed real estate investment trust (SIIC) specialising in business premises, primarily in the hotel, catering, health and leisure sectors. The company's investment policy focuses on partnering with leading firms in each sector so as to offer shareholders a regular yield on investment. Foncière des Murs is listed on Euronext Paris, Compartment B of the Eurolist market (FR0000060303 - FMU).
Press contacts: Crédit Agricole Assurances
Elise Bouteiller — + 33 (0)1 43 23 80 71 Camille Langevin — + 33 (0)1 57 72 73 36 [email protected]
Foncière des Murs
Dominique Ozanne —Executive General Manager + 33 (0)1 58 97 54 20 [email protected]