Accor has announced that it has entered into exclusive talks with French food services and facilities management company Sodexo for the possible sale of its gourmet catering business, Lenôtre, for an enterprise value of €75 million.

Denis Hennequin, Accor's chairman and chief executive officer, said, "I'm very pleased about the interest expressed by Sodexo as an ideal buyer, enabling Lenôtre to continue its development while benefiting from increased resources. Once this sale has gone through, Accor will be fully focused on the hotels business."

The deal will now to be submitted to the relevant authorities and a consultation process will take place with employee representatives.

www.hvs.com