Deal-ticker: Financial restructuring of AccorInvest

 

Kellerhals Carrard advised AccorInvest on Swiss legal aspects of its financial restructuring.

The AccorInvest group is a leading hotel owner and operator in Europe, operating 862 hotels in 28 countries worldwide, under renowned brands including Sofitel, Pullman, MGallery, Fairmont, Novotel, Mercure, ibis and F1.

Impacted by the COVID-19 pandemic, the AccorInvest group has negotiated a restructuring of its existing debt of 4.5 billion euros with its banking partners and has furthermore secured additional financing in the form of a loan guaranteed by the French State (PGE) in the amount of 477 million euros. The agreement between the AccorInvest group and its banking partners also provides for a recapitalization of the group, through a capital increase of an amount equivalent to that of the PGE, carried out by its existing shareholders.

AccorInvest was advised by an international and multidisciplinary team led by the Paris office of Hogan Lovells. Kellerhals Carrard acted on Swiss legal aspects in collaboration with Hogan Lovells.

The Kellerhals Carrard team was composed of Edgar Phillipin and Elena Burger.