French private equity investor Colony Capital has built up a stake in Accor, a French hotels business, acquiring close to €50m (US$64m) of shares over the Christmas period.
French stock exchange filings show that Colony Capital bought €44.7m of Accor shares through four separate transactions, with the acquisitions made through its Colday fund.
It is unclear what size stake Colony Capital has build in Accor. Rival investment group Eurazeo has owned a stake in Accor since 2005, increasing its position in the business last year to 8.5% last year.
Source: Thomson Merger News