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Accor Casinos increases its friendly bid for Compagnie Europeenne de Casinos

Accor<.> Casinos has increased its bid to 65 euros per share and 160.7 euros per convertible bond, for all…

Accor<.> Casinos has increased its bid to 65 euros per share and 160.7 euros per convertible bond, for all outstanding Compagnie Europeenne de Casinos securities.



The new bid comes after the friendly purchase bid made by Accor Casinos on January 10, 2002, at a price of 52 euros per share and 129.50 euros per convertible bond, and the rival bid announced by the Partouche Group on January 28, 2002, at a price of 59 euros per share and 144.68 euros per convertible bond.



The US-based Colony Capital investment fund has confirmed its intention to implement its planned partnership with Accor in Accor Casinos.



This transaction would have a positive impact on Accor`s profit before tax and before goodwill in 2002, and would be without effect on earnings per share for 2002; it would have a positive effect on the Group`s financial ratios.



Accor Casinos presently operates 16 establishments (14 in France, 1 in Belgium, 1 in Malta) and generated gross revenue of 302 million euros in 2001. Accor Casinos recently won two new concessions in Switzerland.

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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