Proskauer Steers AccorHotels' $319M SBE Investment

Law360 (June 29, 2018, 5:56 PM EDT) -- Proskauer Rose LLP represented AccorHotels in connection with the company's $319 million investment, announced on Friday, in hospitality company SBE Entertainment Group, a deal that includes the purchase of a 50 percent stake in SBE.

Per the terms of the deal, Paris-based AccorHotels is paying $125 million to buy half of SBE's common equity, part of which is held by Cain International, and is also contributing $194 million to buy all existing preferred units of the company, some of which are also held by Cain International.

Following the investment, Sam Nazarian, SBE's founder and CEO, will still own 50 percent of SBE....

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