Accor bids A$1.18b for Mantra

Sydney

FRANCE'S Accor has bid A$1.18 billion (S$1.25 billion) for Mantra Group, a deal that would combine the two biggest hotel owners in Australia and seek to capitalise on surging tourism in the country.

Accor, already the biggest hotelier in Australia, offered A$3.96 a share, or a 23 per cent premium to Mantra's closing price last Friday.