Under the terms of the agreement, and following a capital increase approved by Dorint AG shareholders at a Shareholders` Meeting on Friday August 16, in Hamburg, Accor will hold a 26% interest in the German group.
Both parties shared objective is to establish, with the approval by the corporate bodies of Dorint AG, a strategic partnership to develop commercial and managerial ties between Dorint`s properties and Accor`s Sofitel, Novotel and Mercure hotels and to increase Dorint`s financial position.
The agreements will be definitively implemented after the appropriate competition authorities have examined them.
Over the past five years, Dorint AG has acquired a forefront position in the German market by developing four and five-star hotels in all of the country`s main cities. In all, the group operates 91 hotels, of which 75 in Germany. It also has some 20 properties under construction or in development.
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