London, Sept. 19- Granada Compass Plc, the U.K. catering and hotel group, is understood to be in advanced talks to sell most of its hotels business to Accor SA for about 3 billion pounds ($4.2 billion), the Guardian reported.
An agreement on price must still be reached, and both parties are thought to be working to complete the transaction before the end of the month, the Guardian said. Frances Accor is the worlds third-largest hotel company.
Granada Compass was formed in May by the merger of media, hotels and hospitality company Granada Group with caterer Compass Group. (9/19/00)
Source: Bloomberg