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India: CCI gives its nod to $12.2 billion Marriott-Starwood deal

 |  February 1, 2016

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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