Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
12 July 2016
Deals | France | M&A & Real Estate
Gide has advised AccorHotels on the sale of a portfolio of 85 budget and mid-range hotels (premises and business assets) for EUR 504 million. These hotels (Pullman, Novotel, Mercure and Ibis) will now become a part of Grape Hospitality, a platform dedicated to hotel accommodation that is 70%-owned by Eurazeo and 30% by AccorHotels.
The portfolio sold to Grape Hospitality includes hotels located in France for the most part, as well as in Spain, Italy, Portugal, Germany, Austria, Belgium and the Netherlands. All these hotels will remain affiliated to AccorHotels brands via franchise contracts, and will undergo a full refurbishment programme in the coming months.
The Gide team advising AccorHotels on this operation comprised partner Frédéric Nouel and Cléopha Thomann, associate, on real estate law aspects, partner Didier G. Martin on M&A aspects, and partner Guillaume Navarro on employment law aspects. Winston & Strawn (partner Jean-Pierre Collet) advised on tax aspects.
The notaries were Nicolas Masseline from Etude Wargny & Katz and Dominique Maulen from Etude Allez & Associés.
Mayer Brown advised Eurazeo.
