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Marriott-Starwood merger gets Chinese approval

09/21/2016| 9:35:06 AM| 中文

After a prolonged review, Chinese regulators granted antitrust approval to Marriott’s acquisition of Starwood, the last remaining hurdle to the merger.

The chains said they expect the deal to close before the market opens in New York on Friday.

The approval follows Chinese authorities’ decision, which the companies announced Aug. 8, to take an extended look at the merger for up to 60 more days. The regulators made their decision before the Oct. 8 deadline expired.

Marriott and Starwood had said all along that they expected the USD 12.2 billion deal to go through even as it had sailed through all other regulatory approvals.

The deal, when it closes, will create the largest hotel chain in the world with 1.1 million rooms, spread out over nearly 30 brands.

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TAGS: Marriott | Starwood | China | hotels
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