The European Commission has cleared the acquisition of Starwood Hotels & Resorts (HOT) by Marriott International (MAR), both of the US.
The Commission found that the takeover would not adversely affect competition in Europe. 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 Commission assessed the impact of the proposed acquisition on competition in Europe in the market for hotel accommodation services and in the markets for hotel management and hotel franchising services. The Commission concluded that the proposed acquisition would raise no competition concerns.
The transaction was notified to the Commission on May 23.
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