The Competition Commission of India has given its nod for acquisition of Starwood Hotels and Resorts by Marriott International, setting the stage for the Marriott and Starwood combine to create a hospitality behemoth in India.
Marriott International’s acquisition of Starwood Hotels & Resorts Worldwide for $12.2 billion would enable the combined entity to not only create the world’s largest hotel chain but also the biggest hotel chain in India by rooms, displacing Tata Sons-promoted Taj group of Hotels.
In a tweet, the Competition Commission of India said it has approved the acquisition of Starwood Hotels & Resorts Worldwide by Marriott International.
CCI considered the hotels and hospitality industry in different Indian cities as the relevant market while looking into the deal.
Full content: The Economic Times
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