(CercleFinance.com) – Accor announces that it has entered into a share purchase agreement aimed at repurchasing, in the coming days, a block of seven million of its own shares – representing 2.77% of its capital – from Jinjiang International , at a price of 39.22 euros per title.
This share buyback, which will amount to 275 million euros, is part of the hotel chain’s 400 million euro share buyback program for 2024. The balance of the program will be executed shortly.
Following the transaction and the cancellation of the repurchased shares, Jinjiang International’s stake in Accor will be reduced from 7.96% to 5.33% of the capital. The transaction will have an accretive effect on EPS of approximately 1.5% on an annualized basis.
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