SINGAPORE (Feb 28): GIC, the global investment firm, along with a group of investors will be acquiring a 55% stake in AccorInvest for €4.4 billion ($7.13 billion).

AccorInvest is a world leader in hotel real estate with a current portfolio of 891 hotels, with the majority of the hotels located in Europe.

Under the terms of the deal, AccorHotels would initially sell 55% of AccorInvest to GIC, the Public Investment Fund (PIF), Credit Agricole Assurances, Colony NorthStar and Amundi, along with other investors.

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