Accor Announces Share Repurchase from Jinjiang International

Accor has entered into a share repurchase agreement with Jinjiang International, purchasing 7 million of its own shares, which corresponds to 2.77% of its capital, at a price of €39.22 per share. This transaction, part of a €400m buyback program for 2024, aims at reducing Jinjiang International's stake from 7.96% to 5.33% in Accor. The repurchase is valued at €275m and seeks to have an accretive effect on the shareholders' stake and earnings per share by approximately 1.5% annually.

The board of directors at Accor unanimously approved this transaction, which will be finalized in the coming days without any preceding conditions. An independent expert has confirmed the fairness of the repurchase price for both Accor and its shareholders, finding it financially sound. Accor and Jinjiang International's leaders express strong confidence in this partnership and Accor's growth potential, highlighting the transaction's role in shareholder value enhancement.