PARIS (Reuters) -Europe's biggest hotel group Accor said on Thursday it planned to sponsor a blank-check firm to target acquisitions in the leisure, lifestyle and food sectors. The company said in a statement it expected the special purpose acquisition company (SPAC) to raise about 300 million euros ($365.37 million) with a listing on Euronext Paris, adding that its own investment in the SPAC would not be material. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held firm, that then becomes publicly traded as a result.
Shares in French travel and leisure companies, such as Air France KLM and hotels group Accor, fell on Friday after France imposed a month-long lockdown on Paris and parts of the north to curb the spread of the coronavirus. Air France KLM shares were down 2.6% while Accor fell about 1%. Shares in French catering companies Sodexo and Elior were also hit, retreating by about 2%.
NEW YORK, NY / ACCESSWIRE / February 24, 2021 / Accor SA (OTC PINK:ACCYY) will be discussing their earnings results in their 2020 Second Half Earnings call to be held on February 24, 2021 at 8:30 AM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.