Parvus Asset Management Increases Stake in Accor to 11.97%, Denies Seeking Control Amid Controversy
💰 Parvus Asset Management increased its stake in Accor to 11.97% of capital and 10.23% of voting rights as of this week. Previously, it held 10.8% on December 31 last year. Accor's share price faced volatility after a report alleging misconduct, which Accor denies and is investigating. Accor plans to use proceeds from selling its 30.6% stake in Essendi for a €450m share buyback. Accor is also exploring investment opportunities in India.
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