French casino and hotel giant Groupe Lucien Barrière plans to launch an initial public offering at the end of June.
The IPO, reported by Reuters based on information posted by French Web site Wansquare, is being assembled by three banks, Lazard-Natixis, Societe Generale and BNP Paribas.
According to the report, French hotel and services group Accor will sell part or all of its 49 percent stake in the company. Accor Chief Executive Gilles Pelisson said in February the group hoped to sell its stake in Lucien Barrière, possible through an IPO, this year.
The other 51 percent of Barrière is owned by the Desseigne-Barrière family, which also owns more than 70 percent of La Societe Fermiere du Casino Municipal de Cannes, which has been integrated into Barrière to form a 40-casino giant in France and Europe which in addition to 16 luxury hotels, controls 25 percent of France’s casino slot machines and half the country’s gaming tables.
BarriÃ¨re IPO reported in the works
April 6, 2010