French hotel group Accor has expanded into the Polish by leading a consortium which has agreed to buy a 35.4% stake in the Orbis leisure group for Zl579m ($135m).
The price of Zl35.5 per Orbis share represents an 11% premium over Wednesday’s price of Zl32.
Accor will take 20% stake with other consortium members FIC Globe and Globe Trade Center taking 10.4% and 5% respectively.
Orbis has 56 hotels in Poland and a market share of 40%.
