A PYMNTS Company

Mexico: COFECE clears OHL asset sale – 80% of hotel shares sold

By  |  April 4, 2017

Industrial group OHL has been authorized by competition watchdog COFECE to sell up to 80% of its shares in hotels located in the popular tourist hotspots of Quintana Roo. The shares have been scooped up by RLH Properties, manager of luxury properties across the country, including the Four Seasons chain.

At first RLH will control 51% of OHL’s hotel business in its Banyan Tree, Mayakoba and Andaz Mayakoba hotels, as well as the El Camaleón golf club. The group will also take 80% of the Rosewood Mayakoba and Fairmont hotels. The deal still needs clearing from the banking and stocks regulator, the CNBV.

The clearance by COFECE was granted without conditions, as was remarked by the statement released by OHL.

Full Content: La Jornada

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.