The company operates casinos just give Lucien Barriere announced that Accor SA, a company that has 49% of its shares, would sell its share of interest in the company through a series of disagreements on business plans.
Lucien Barriere is a French company in charge of the family Desseigne. Accor’s interests in this company, as stated by Gilles Pelisson, chief executive of the company, totaling the $ 630 million.
“I do not predict a great future growth for the company Lucien Barriere,” said Simon Larkin, a financial analyst at Nomura International. “The way the company managed to convince the international financial market on future projects will depend on the ease or difficulty to find it for sale to their interests during the coming weeks.”
Lucien Barriere currently operates 37 casinos and 14 luxury hotels. According to the latest company reports in the last annual period that ended in October 2009 the company raised earnings by an amount equivalent to $ 1.07 billion.
Accor officials, meanwhile, said that over the coming months will focus on the opportunities they have in the hotel industry in different European countries. Many financial analysts have commented on the advantages for a company to remain flexible in circumstances of economic adversity.
After the announcement made by Lucien Barriere Accor shares rose 2.7% to reach € 23.39 according to the Paris foreign exchange market. In so far this year the company’s stock suffered a fall and comes to 5.9%.
