Archive for June 30th, 2010
After only eleven of the twelve adminisitrateurs group had agreed in December last year, Accor shareholders adopted by an overwhelming majority (88.49%) splitting the group into two separately listed companies, at the end of a general meeting. A project that was focused by the fund Colony Capital and Eurazeo, who hold 30% stake between them. Conversely, he had raised questions with the Strategic Investment Fund (ISF) for which the merger was "too risky".
Gilles Pelisson "very happy"
The announcement pleased the markets because at the Paris Bourse, the Accor share gains 2.40% to 42.29 euros in a market down by 2.75%. She also meets Gilles Pelisson, CEO of the group: "I am very happy," he said after the vote.It simply means that the split is an idea that has much meaning.
During the meeting, issues of Accor shareholders have not dealt with the proposed demerger, except on technical tax issues.
One of the two entities retain the name of hotel and Accor, and the other called Edenred, takes over the prepaid (Ticket Restaurant, Ticket-food, gift certificates, Kadéos, Cesu …). On July 2, the two entities will be listed on the Paris Bourse. Consequence: during a trading session, the CAC 40 will be 41 values, do so before qu'Edenred index on July 5.This separation was made possible by the extensive development of the service arm that has doubled in size in four years and can become autonomous, "said Gilles Pelisson, Accor's CEO.
Technically, the division will lead the purge of the old order book Accor shares at the end of the meeting on 1 July instant payday loan. Shareholders who wish to sell their securities or those who wish to buy must act before July 2.On Friday, the shareholders of the "old" Accor will receive one share of "new Accor" Edenred plus one share for one share of the "old" Accor held.
For the CGT, the group only wants to make money on the stock market "
If this decision was thus obtained a plebiscite among directors and shareholders in Accor, this is not the case with employee unions, who see the split as a "dismantling of the group." They fear that the sale of hotels – Accor is to sell 450 hotels in the coming years – should lose benefits to employees.
In an open letter to shareholders of the Accor group, wrote that the CGT split "plunge the company and its employees in difficulty.""This is not for the good of the company that the group is divided by two, but only to make money on the stock market," says Angel Romiti, Secretary General of the Federation of the SGC services. Accor aims to open 40,000 rooms per year in France.
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For the ISP, the division of Accor is too risky (December 2009)