Covivio SA (FR:COV) has released an update.
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Covivio SA has signed a memorandum of understanding with AccorInvest to consolidate their hotel assets, involving the acquisition and transfer of various hotel operating and property companies. The deal, valued at €393 million for properties exchanged, is geared towards growth in the hotel sector by optimizing management and repositioning portfolios for both entities. It signifies Covivio’s strategic shift towards a more diverse hotel real estate model and will finalize in the last quarter of 2024.
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