Predica and Foncière des Murs confirm the acquisition of a hotel portfolio from Accor

Predica and Foncière des Murs confirm the acquisition of a hotel portfolio from Accor
Paris, 13 January 2011 — Predica, a subsidiary of Crédit Agricole Assurances, and Foncière des Murs have finalised their acquisition of a portfolio of hotels from the Accor group, in line with the memorandum signed in August 2010.
The portfolio of 49 properties comprises 32 hotels in France, 10 in Belgium and 7 in Germany. To date 43 of the hotels have been acquired, and the remaining six will be purchased in the course of 2011. The total transaction is worth 378.4 million euros.
This partnership between Accor, Predica and Foncière des Murs is consistent with each company's investment strategy.

(+) more about Crédit Agricole Assurances