Accor Casinos Increases its Friendly Bid For Compagnie Européenne de Casinos

20th Feb 2002

Accor Casinos has increased its bid to 65 euros per
share and 160.7 euros per convertible bond, for all outstanding Compagnie
Européenne de Casinos securities.
The new bid comes after the friendly purchase bid made by Accor Casinos on
January 10, 2002, at a price of 52 euros per share and 129.50 euros per
convertible bond, and the rival bid announced by the Partouche Group on January
28, 2002, at a price of 59 euros per share and 144.68 euros per convertible bond.
The US-based Colony Capital investment fund has confirmed its intention to
implement its planned partnership with Accor in Accor Casinos.
This transaction would have a positive impact on Accor’s profit before tax and
before goodwill in 2002, and would be without effect on earnings per share for
2002; it would have a positive effect on the Group’s financial ratios.
Accor Casinos presently operates 16 establishments (14 in France, 1 in Belgium,
1 in Malta) and generated gross revenue of 302 million euros in 2001. Accor
Casinos recently won two new concessions in Switzerland.


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