Australia’s competition regulator said on Wednesday it will review French hotelier Accor’s US$920 million buyout of Australian hotel operator Mantra Group.
The Australian Competition and Consumer Commission (ACCC) said it is monitoring the transaction and a “public review will be commenced in due course once certain information is provided by Accor and Mantra”.
The deal, a takeover of Australia’s second-largest hotelier by its bigger rival, would create the biggest hotel group in the country, with about 50,000 rooms and roughly 11% of the market, according to IBISWorld statistics.
Full Content: Independent
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