find the latest legal job
AccorHotels pays $1.2bn for Aus hotel group

AccorHotels pays $1.2bn for Aus hotel group

AccorHotels, Baker McKenzie, payment, money

International player AccorHotels has been advised on a scheme of arrangement to acquire all the shares in an Australia-based hotel group.

Firms: Baker McKenzie (Mantra Group Limited); undisclosed (AccorHotels)

Deal: AccorHotels acquired all the shares in Mantra Group Limited (Mantra).

Value: $1.2 billion

Area: M&A

Key players: The Baker McKenzie team advising Mantra was led by partners Lauren Magraith (pictured), Guy Sanderson and Georgina Foster, with assistance from senior associate Jeanie Chang and associates Emily Hunter and Matthew De Cataldo. 

Deal significance: Mantra, the largest Australia-based hotel and resort marketer and operator, accepted AccorHotels’ proposal to acquire all of its shares for approximately $1.2 billion in cash.

Mantra has over 20,000 rooms under management across Australia, New Zealand and Indonesia. Its key brands are Peppers, Mantra and BreakFree.  

AccorHotels is an international travel and lifestyle group operating in 95 countries.

The deal valued Mantra shares at $3.96 each, with an implied enterprise value of approximately $1.2 billion.

“We were delighted to act for Mantra Group on this exciting transaction and for the opportunity to work with the Mantra team and their advisers in considering AccorHotel’s proposal,” said lead partner Lauren Magraith.

“Since their IPO in 2014, we have admired the way in which the Mantra team have continued to create significant value for their shareholders as a result of the successful operation and growth of the business, and this proposal from AccorHotels reflects the world-class quality of the Mantra management, business and brands.”

The transaction is expected to be completed around March 2018.

Pictured: Baker McKenzie partner Lauren Magraith

Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Julian Assange
Oct 13 2017
When justice fails, according to Assange
WikiLeaks founder Julian Assange has dismissed the capacity of judicial systems to deal with complex...
Aussie anti-terrorism laws, detention of 10-year-olds
Oct 13 2017
Treatment of kids under Aussie anti-terrorism laws an over-reach: ABA
The Australian Bar Association has urged the government to reconsider proposed reforms to Australian...
Supreme Court, scales of justice, crime, Victoria
Oct 13 2017
Supreme Court maintains silence amid crime sentencing controversy in Victoria
The Supreme Court of Victoria has continued to hold its ground and impartiality, refusing to provide...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries