Sovereign wealth funds, Singapore's GIC and Saudi Arabia's PIF have joined forces with French investors Credit Agricole Assurances and Amundi as well as US asset manager Colony NorthStar to take a 57.8% stake in AccorInvest, the hotel ownership division of French hospitality giant AccorHotels, for €4.6 bn.
Premium subscriber content – please log in to read more or take a free trial.
