Predica, FdM buy 48 Accor hotels for EUR 367m

By A staff reporter 2010-08-23T00:00:00

A joint venture of Crédit Agricole Assurances' Predica unit and Foncière des Murs (FdM) has signed an agreement with French hotel operator Accor group to acquire a portfolio of 48 hotels spread across France, Belgium and Germany. The transaction price amounts to EUR 367 mln, reflecting a yield of 6.6%.

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