Accor and discuss on Fimalac Barrier - January 9, 2011
Fimalac wants afford Accor Casinos. Accor, which still holds 49% share of Casino Lucien Barriere, came under discussion with the holding company Fimalac, announced the holding company and the giant hotel, confirming information Wansquare. "If the talks succeed, Fimalac inform the market with a new release," said the holding company of French businessman Marc Ladreit de Lacharriere.
Neither group has characterized these negotiations exclusive.
Accor thus remained in the process, begun there On several months of separating from its casinos Lucien Barriere. Last October, there was talk that the casino operator is introduced in Exchange, but Accor has canceled the operation less than 48 hours before the first quotations. Explanation: The lack of investor interest.The number one casino in France, also owns luxury hotels like Le Fouquet's in Paris, would indeed have been valued below the proposed price range (from 575 to 702,000,000 euros), which was too little for Accor.
Following this failure, the casino operator did not document-Accor maintained that all options were "reopened", including finding investors. However, management prefers Barrier IPO (IPO). This could suggest a new attempt in 2011.
A price around 550 million euros
According to our information, "it would seem reasonable that it is fastened below the price the IPO at around 550 million euros No teletrak payday loan." Even if the purchase price is modest for Accor, "is clearly positive in terms of perception management," said one trader in Paris.
Fimalac, which include 60% owner of the rating agency Fitch, could then finance the acquisition entirely on equity, because it currently has net cash of 261 million euros.
In the 2009/2010 financial year ended September 30, Fimalac has reported a net profit of 30 million euros (+36.4%) for a turnover of 608.9 million euros ( +8.8%).
The group recently acquired the company Vega, French leader operating rooms dedicated to entertainment, sports and events and economic events. The company has notably orchestrated the return of Michel Polnareff in 2007 and is particularly associated with the operation of the Zenith of Rouen. He also holds 40% of Gilbert Coullier Productions, the leading French organization of shows for singers and comedians speaking.
Nothing works for casinos
The casino market has suffered tremendously, both from an economic crisis that has sealed the "entertainment budget" of the French and regulations become more stringent over time.