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Australia: ACCC looks into Accor’s $920m Mantra takeover

By  |  October 10, 2017

The Australian Competition & Consumer Commission (ACCC) will review French hotelier Accor’s proposed takeover of the Mantra Group that would combine the country’s two top hotel operators.

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    The AU$1.2 billion (US$920 million) takeover of Mantra, which runs Peppers, Mantra and BreakFree properties, would give Accor, best known for brands such as Sofitel and Novotel, a dominant position in some Queensland markets.

    The competition regulator said on October 9 that if a proposed transaction was agreed, “the ACCC would then determine if a public review was required.”

    “If the ACCC decides to conduct a public review, details will be made available on our mergers register,” the regulator said.

    Full Content: The Australian

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