The sbe office in Los Angeles. The sbe office in Los Angeles.

NEW YORK CITY—New York City-based Cain International has soldits 50% stake in the sbe Entertainment Group to AccorHotels.

The deal announced in late June valued Paris-based AccorHotelstotal investment in sbe at $319 million. The companies reported atthe time that AccorHotels would acquire the 50% of sbe's commonequity held in part by Cain International for $125 million. SamNazarian, sbe founder, will continue to own the remaining 50% ofsbe. In addition, AccorHotels would invest $194 million in a newpreferred debt instrument that will be used to redeem all existingpreferred units, also held in part by Cain International, aportfolio company of Eldridge Industries.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.