AccorMantra Group

first_imgAccorMantra Group France’s Accor SA is currently conducting due diligence after its takeover bid of AUD$1.2 billion for Mantra Group Ltd. Mantra said it was allowing Accor to conduct due diligence “to determine if a transaction can be agreed and recommended unanimously by the Mantra board.” The deal can only proceed if it is agreed, unanimously, by both the Mantra and Accor boards, and is cleared bythe Foreign Investment Review Board and Australia’s competition watchdog (ACCC). A successful deal would result in the amalgamation of Australia’s two largest hotel chains, with ownership of over 300 hotels and about 50,000 rooms across AccorHotels and Mantra’s three brands – Mantra, Peppers and BreakFree.IMAGE: Mantra on Salt Beachlast_img read more