Accor shares drop amid COVID-19 virus

Thursday, 12. March 2020 10:01

Shares of French hospitality company Accor S.A. dropped more than 9% on Thursday after the start of trading at Parisian Euronext. Earlier today, President of the European Council Charles Michel stated that the European officials will "assess the situation" surrounding the decision by United States President Donald Trump to suspend all travel from Europe to his country due to the novel coronavirus (COVID-19) pandemic.

Meanwhile, the company announced yesterday it had completed the sale of an 85.8% stake in Orbis to AccorInvest for an amount of €1.06 billion. Furthermore, earlier this week the company finished the sale of Mövenpick hotels’ lease portfolio with a €430m positive impact on net debt.

At 9:42 am CET stock was down by 9.79% to $23.810.

Related Links: Accor S.A.
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Breaking the News / TF