Covovio Acquires Stake in Accor Hotel Portfolio
July 01 2019 - 1:20PM
Dow Jones News
By Olivia Bugault
Covivio SA (COV.FR) said Monday that its subsidiary Covivio
Hotels SCA (COVH.FR) has acquired a 32% stake in a portfolio of
Accor SA (AC.FR) hotels valued at 176 million euros ($198.9
million).
The stake was acquired from AXA SA's (CS.FR) unit AXA Investment
Managers on behalf of one of its clients, the French real-estate
company said.
The portfolio--which is valued at EUR550 million--contains 32
hotels located in France and in Belgium. The portfolio will be
jointly owned by the Caisse des Depots and Societe Generale
Assurances and will be managed by Covivio, it said.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
July 01, 2019 13:05 ET (17:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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