SPAC: Strategic Turnaround - Entry into Exclusive Negotiations to Acquire an Artificial Intelligence (AI) Hotel Reservation Platform

Paris, 21 February 2022 - 8:00am

SPAC
Strategic Turnaround

Entry into Exclusive Negotiations to Acquire an Artificial Intelligence (AI) Hotel Reservation Platform

The Société Parisienne d'Apports en Capital (SPAC - formerly FPN), is strategically shifting its activities towards the development of online hotel services that will generate a high value-add.

With this new roadmap, SPAC, which no longer holds any real estate assets, looks to initiate a new development cycle, and radically transform its economic model so that it can benefit from the growth opportunities offered by the online hotel sector.

Towards these ends, SPAC has entered into exclusive negotiations to acquire, develop, and market an Artificial Intelligence (AI) hotel reservation platform. SPAC is also in discussions with other players in the sector with an eye towards establishing targeted partnerships.

SPAC will soon be convening an Extraordinary General Meeting to present this strategic change to its shareholders, with a view to ratifying the terms of this transformation and establishing new governance to carry out this ambitious project.

The terms, conditions, and closing of the acquisition of these assets will be subject to the performance of satisfactory due diligence and the prior approval of the SPAC Board of Directors.

Contact

SPAC Investor Relations - [email protected]

Press relations - [email protected] - 01 75 77 54 65

About SPAC

La Société Parisienne d'Apports en Capital (SPAC - formerly Foncière Paris Nord) specializes in the holding and management of business real estate assets. At the end of 2020, the group's real estate portfolio totaled 52,000 m2 of office space located in the Paris region.

SPAC is listed on Euronext Paris - Compartment C (ISIN: FR0011277391 - FPN).

More information can be found at: www.fonciere-parisnord.com and spacparis.biz