Press Release from the Board of Directors

28.08.08 - 04:03 ... source : Accor

... Following extensive talks with the Co lony/Eurazeo concert group, the Board of Directors of Accor noted at its meeting today that the concert group has expressed its full support for Ac cor's expansion strategy, which is based on two core businesses, Hotels and Services, and has no intention of seeking either de jure or de facto control of the company, thereby confirming the stra tegic partnership formed with Colony Capital in March 2005. The Board of Directors also noted the commitments undertaken concerning compliance with the principles governing Board seats – particularly the requirement that the majority of members be independent directors – and the introduction of appropriate mechanisms designed to prevent any conflicts of interest arising from Eurazeo's other investments in the hotel industry. Lastly, noting that Colony has expressly reaffirmed th at it is bound by the commitments undertaken in March 2005 that prohibit ...» Next (PDF)