Mantra shareholders offered $3.96 a share by French hotel giant AccorHotels
“This operation will underpin our long-term growth in the Asia Pacific region,” said Sébastien Bazin, chairman and CEO of AccorHotels.
“Mantra’s portfolio would offer AccorHotels additional accommodation formats and a strong customer base to complement our successful hotel portfolio in Australia. We are confident that the transaction terms are attractive for shareholders of both groups.”
Peter Bush, chairman of Mantra, said AccorHotels is one of the world’s leading hotel operators and trusted that their business will be in good hands.
“Mantra’s strong expertise in apartments, in particular, and our presence in resort locations are very complementary to the AccorHotels operations in Australia and New Zealand,” he said.
“The combined business will be an important part of Australia’s strong and growing tourism market and its customers will benefit from the market leading expertise of both groups.”