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01/02/2012
CMS Bureau Francis Lefebvre’s Africa specialists advised Accor Africa on the acquisition of the Pullman hotel property in Abidjan, Côte d’Ivoire.
Accor Africa has finalised an agreement to acquire all of Atlantique Assurances’ interest in COCOMA, a non-trading property company that owns the Pullman hotel property operated by Accor in Abidjan.
Accor's decision to gain a controlling interest in COCOMA is part of a long-term approach that will allow the hotel group to actively pursue its investment and development strategy in Côte d’Ivoire.
The transaction immediately enhances Accor Afrique’s ability to start remodelling and renovating the hotel and reflects Accor’s confidence in Côte d’Ivoire’s future growth. It also dovetails with Accor's ambitions to expand in the country, through the development of the Ibis and Novotel brands.
Legal advisors:
Accor Afrique was advised by CMS Bureau Francis Lefebvre’s Africa specialists (Pierre Marly, Partner, and Nicole Marielle and Bénédicte Bonnafous, Lawyers), while Atlantique Assurances was advised by Messan Loan, Lawyer.
The notarial office of Christine Nanou-Adou also advised on the property aspects of the transaction.
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