Private equity real estate player Colony Capital has sold its 15% interest in French casino company Groupe Lucien Barriere to Accor, the French hotels group.
Already a shareholder, this takes Accor’s take to 49%. Colony sold its slice for €153m.
Colony and Accor created Lucien Barriere in December 2004, with Colony taking a 15% ownership, Accor 34% and the Desseigne-Barriere family picking up the balance.
However, the sale isn’t a true exit as Colony owns a stake in Accor and has done since March 2005.