In accordance with the non-binding agreement, Accor will acquire Orbis’ entire service business consisting of assets, agreements, and any other rights related to its services to managed and franchised hotels. The transaction value will exceed PLN 1.2 billion (approximately €282 million). Following the transformation, Orbis and Accor will sign agreements under which Accor will manage all hotels currently owned or leased by Orbis.
Dentons is providing Orbis with legal and tax advice on the separation of the real estate assets from the service business in Poland, Czech Republic, Slovakia, Romania and Hungary. The firm is also advising on the sale of the Orbis service business to Accor and providing capital markets advice.
Dentons’ cross-border team is led by partners Piotr Dulewicz, Head of the Corporate and M&A practice in Poland, Jakub Celiński, Head of the Europe Equity Capital Market practice, and Cezary Przygodzki, Co-head of the Tax practice in Poland.
In Romania, the team was led by Raul Mihu (Partner) supported by Bogdan Papandopol (Partner), Argentina Rafail (Senior Associate), Oana Ionascu (Senior Associate) and Andreea Lepadatu (Associate).