Dentons has advised Orbis in connection with a tender offer issued by majority shareholder AccorHotels to purchase all outstanding shares in Orbis's share capital.
According to Dentons, "the transaction is one of the largest tender offers launched in 2018 for shares of a company listed on the Warsaw Stock Exchange."
In accordance with the preliminary results of the offer, investors submitted subscriptions for shares constituting approximately 33.1 percent of the share capital of Orbis for a total consideration of EUR 337 million.
According to Dentons, the Orbis Group was the first hotel sector company to make a public debut on the WSE in 1997. Currently, Orbis is the largest hotel chain in Poland and the CEE region.
Dentons’ transaction team was led by Dentons Warsaw Partner Jakub Celinski, supported by Associate Mikolaj Chodkiewicz.
Editor’s Note: After this article was published CEE Legal Matters learned that Weil, Gotshal & Manges advised AccorHotels in connection with the acquisition from the minority shareholders, through a public tender offer, of shares in Orbis.
The Weil team was led by Partner Marcin Chylinski, supported by Counsel Ewa Bober and attorneys Filip Lesniak, Leszek Cyganiewicz, and Arkadiusz Karwala.
