PARIS — French hotel group Accor SA said Tuesday it bought Kadeos, a gift card and voucher business, for euro210 million ($275.4 million) from luxury goods group PPR SA. Kadeos designs and markets gift cards and gift vouchers for businesses and consumers, Accor said in a statement. The issue volume is expected to total about euro2 billion ($2.62 billion) in 2007. Accor currently issues gift vouchers for businesses under the Ticket Compliments brand. "The acquisition has enabled Accor Services to enrich its portfolio of prepaid products with a brand that is well-known to the French public," said Serge Ragozin, chief executive of Accor Services. Accor shares added 2.77 percent to close at euro67.50 ($88.68) in Paris.
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