White & Case Advises Banking Syndicate on Accor Acquisition Company's IPO – First-Ever Corporate SPAC Listing in Europe
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Global law firm White & Case LLP has advised the banking syndicate composed of Goldman Sachs and BNP Paribas on the listing of Accor Acquisition Company, a Special Purpose Acquisition Company (SPAC) sponsored by Accor, on the regulated market of Euronext Paris – the first-ever listing of a corporate SPAC in Europe.
Accor Acquisition Company's purpose is to acquire businesses active in sectors which complement Accor's core hospitality business – including food & beverage, flexible working, wellness, entertainment & events and travel technology – within 24 months of its listing. Accor will hold 24.5 percent of the company's capital.
Accor Acquisition Company's shares will be listed on the professional segment of the regulated market of Euronext Paris. The offering has been carried out via an international private placement for an amount of €300 million (if the over-allotment option is fully exercised).
The Prospectus was approved by the Autorité des Marchés Financiers on May 26, 2021 and the first listing occurred on June 1, 2021.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard, and included partners Max Turner and Alexandre Ippolito, counsel Jean Paszkudzki and associates Isabelle Touré-Farah, Tatiana Uskova and Claire Sardet.
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