Marriott Awaits China’s Authorisation for Starwood Takeover

Marriott Starwood Acquisition

Until legal close, both Marriott International and Starwood Hotels & Resorts will continue to operate as separate and independent entities.

In conjunction with a major acquisition currently underway, Marriott International has expressed that it has received authorisation from competition authorities in Mexico and Saudi Arabia to proceed with its takeover of Starwood Hotels & Resort in a merger transaction.

The only remaining country from which both hospitality brands require pre-merger authorisation is China. The named merger participants will continue to cooperate with the Chinese regulatory agency (MOFCOM) and will be prepared to close the transaction promptly once said authorisation is received.

According to the global hotel giant, stockholders from both sides have overwhelmingly approved proposals related to the transaction which began on 8 April 2016. Until legal close, the companies are expected to continue operating as separate and independent entities.

Photo caption: Marriott Coronado Island Resort & Spa