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Accor Sets Q3 Deadline to Decide on Ennismore’s IPO, Says Stake Won’t Drop Below 51%
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A decision on whether to take Ennismore public will come by the end of the third quarter, Accor chairman and CEO Sébastien Bazin said Thursday, adding that whatever form a listing takes, Accor will not drop below 51% ownership of the lifestyle joint venture.
“The decision has not been made, and what I can actually confirm to you, which is very, very true, is there is no scenario in which Accor will go underneath 51% of Ennismore,” Bazin said on the company’s half-year earnings call.
By keeping above 51%, Accor consolidates Ennismore’s full results into its own accounts.
Drop below that threshold and Accor would book only its proportional share of profits.
“If we were to d