AccorHotels to buy Mantra for $1 bn

Paris: France’s AccorHotels said on Thursday it has reached a deal to buy Australian hotel operator Mantra for 900 million euros ($1 billion), in a move that will strengthen its “long-term grown in the Asia Pacific region”. The agreement, yet to be approved by Mantra shareholders, will see the Australian operator’s shares sold at AUD$ 3.96 (2.7 euros, $3.1) each, AccorHotels said in a statement. “AccorHotels will pay AUD$ 1.3 billion, equivalent to 0.9 billion” euros, the French hotel giant said. Mantra put the figure at slightly lower — AUD$ 1.25 billion, including debt. — AFP