Kirkland Advises GIC on Acquisition of Stake in AccorInvest

Kirkland & Ellis is representing GIC, Singapore’s sovereign wealth fund, as part of a consortium acquiring a 55% a stake in the real estate assets of French multinational hotel group AccorHotels. Under the agreement, signed on February 27, 2018, the consortium will buy a majority stake in AccorInvest, a world leader in hotel real estate with a current portfolio of 891 hotels in 27 countries, for approximately €4.4 billion. AccorInvest will continue to be operated by AccorHotels under very-long-term contracts.

The other members of the consortium are French asset manager Amundi, Crédit Agricole’s life insurance arm Predica, U.S. real estate investor Colony NorthStar, and Saudi Arabian sovereign wealth fund the Public Investment Fund (PIF). Further information is available here.

The Kirkland team was led by London corporate partners Stuart Boyd, Matthew Elliott and Celyn Evans, debt finance partner Jonathan Birks and intellectual property & technology partner Emma Flett.