News by sections
ESG

News by region
Issue archives
Archive section
Multimedia
Videos
Search site
Features
Interviews
Country profiles
Generic business image for news article Image: Shutterstock

06 March 2015
Paris
Reporter Stephanie Palmer

Share this article





BNY Mellon depository for French hotels

BNY Mellon has been appointed as depository bank for French hotel operator Accor SA, for its sponsored American depository receipt (ADR) programme.

Accor has previously traded in the US as an unsponsored depository receipt. Each sponsored ADR will represent a fifth of an ordinary share, and will trade on the over-the-counter markets as ‘ACCYY’. Accor’s ordinary shares trade on Euronext Paris under the code ‘AC’.

The hotel operator caters to business and leisure travellers and has 3,700 hotels in 92 countries.

As of 31 December 2014, BNY Mellon was depository for more than 2,800 American and global depository receipt (DR) programmes. It has partnerships in 65 countries.

Christopher M. Kearns, CEO of BNY Mellon's depositary receipts business, said: "France is an important market for U.S. investors, and we'll work closely with Accor to help the company achieve enhanced visibility with this new sponsored DR program."

He added: "We're committed to providing Accor with the resources and expertise they'll need to support investor outreach initiatives."

Advertisement
Get in touch
News
More sections
Black Knight Media