ColTime derivatives financing contracts in Accor and Edenred mature
Paris, January 12th 2012 - Funds managed by Colony Capital ("Colony"), an investor in Accor since 2005, held derivatives financing contracts1 since 2007 and 2008 through ColTime. Following the July 2010 spin-off of Edenred, these contracts also related to Edenred in the same proportions. These contracts matured on January 5th 2012, and the stakes of Colony Capital in Accor and Edenred were reduced accordingly.
Colony, through ColDay, remains a significant investor of these two groups. It continues to hold 11.22% of Accor share capital (9.88% of voting rights) and 11.29% of the Edenred share capital and voting rights.
The derivatives financing contracts entered into in 2007 and 2008 allowed Colony to lock in a profit.
ColDay and Legendre Holding 19 (a subsidiary of Eurazeo) stakes in the two companies remain unchanged, and combined represent 21.37% of Accor share capital (27.51% of voting rights), and 21.50% of Edenred share capital and voting rights.
Colony reiterates its commitment as a shareholder of both groups, and its support towards the strategies implemented by the respective management teams. The above mention was declared to the French Autorité des marchés financiers (AMF) on January 11th 2012.
As required by AMF General Regulation, Colony and Eurazeo combined stakes have been reduced below 30% of the share capital and voting rights before February 1st 2012.
1. Notes :
AMF disclosures ; 14/01/2008:
- http://www.amf-france.org/inetbdif/viewdoc/affiche.aspx?id=33893&txtsch=
- http://www.amf-france.org/inetbdif/viewdoc/affiche.aspx?id=33892&txtsch=
AMF disclosure ; 11/04/2008:
2. AMF notice of February 9th 2011