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Jeantet and CMS Advise on Group Accor Acquisition of Five Budapest Hotels

Jeantet and CMS Advise on Group Accor Acquisition of Five Budapest Hotels

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Jeantet has advised listed hotels group Orbis, a unit of the French group Accor, in a buyback transaction involving five hotels in downtown Budapest operating under Accor brands from Erste Group Immorent Holding GmbH. CMS advised Erste Group Immorent on the deal. The aggregate price for the acquisition of the five hotels was EUR 64.3 million.

The deal encompasses the Mercure Budapest Korona, Ibis Styles Budapest Center, Ibis Budapest City, Ibis Budapest Centrum, and Mercure Budapest Buda.

The Jeantet team was led by Partner François d’Ornano and included Local Partner Ioana Knoll-Tudor and Associates Anna-Maria Veres and Blanka Borzsonyi. 

The CMS team consisted of Senior Counsel Jozsef Varady and Associate Zsofia Zsurzsa.

Image Source: ibis.com

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