Reed Smith lawyers in Paris have advised French multinational hospitality company Accor on the sale of its headquarters to the Valesco Group for €460 million.

This is one of the largest office property transactions of the year in Europe. The sale will be accompanied by Accor's signature of a 12-year lease.

Reed Smith acted on the tax aspects of the transaction, with a team comprising Jean-Pierre Collet, Alice Pothet-Zevaco and Benoît Bernard. Valesco Group is a property investment group based in London.

This transaction once again demonstrates the capabilities of Reed Smith's tax team in high-stakes transactions.