Marriott gets EU approval for Starwood acquisition
Marriott International has been given unconditional clearance from the European Union to purchase Starwood Hotels and Resorts Worldwide.
The deal, worth around $12.1 billion, will create the world’s largest hotel chain.
The European Commission’s Commissioner for Competition Margaret Vestager said: "This is an important merger for the hotel industry and its customers.
"Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger, so I am pleased that the Commission was able to clear the transaction quickly."
The deal is now subject to additional antitrust clearances, including in China.
Both Marriott and Starwood shareholders overwhelmingly approved the acquisition on April 8.
The deal is expected to be closed next month.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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