Marriott’s Acquisition of Starwood Receives Antitrust Approval in China; Starwood expects its shares will cease trading on the New York Stock Exchange before market open on September 23, 2016.
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After Wipolo, Oasis Collections, SquareBreak and onefinestay, the acquisition of John Paul, world leader in the customer loyalty and concierge markets marks a major new step in transforming AccorHotels into a travel companion providing innovative services to travelers at every step of their journey.
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AccorHotels, Qatar Investment Authority and Kingdom Holding Company also establish long term sharehold partnership. AccorHotel Board appoints new directors and CEO for their Luxury Brands division.
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With these authorisations, the only remaining country in which Marriott and Starwood require pre-merger authorisation is China.
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The closing of the proposed merger is subject to obtaining additional antitrust clearances, including in China, and satisfying other customary closing conditions that are in the merger agreement. European Union clearance represents satisfaction of a major closing condition to the proposed merger.
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The Country Inns & Suites By Carlson brand in India will now be managed by Carlson Hotels (South Asia) Private Limited, the Indian affiliate of Carlson Rezidor Hotel Group. This acquisition also includes four Radisson Blu hotels managed in India by CDMS.
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