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EU approves acquisition of 6 hotels by SCG, Melia

Xinhua, April 29, 2015 Adjust font size:

The European Union (EU) approved the acquisition of joint control over six hotels located in Spain by Starwood Capital Group (SCG) of the United States and Melia Hotels International (Melia) of Spain under the EU Merger Regulation, said the European Commission on Wednesday.

The hotels bought are six 3-4 stars hotels located in holiday destinations in Spain, including Costa del Sol, Fuerteventura, Lanzarote, Mallorca and Ibiza.

SCG is an investment company focusing on global real estate, while Melia is the largest hotel chain in Spain, noted the Commission.

The Commission concluded that the proposed acquisition would raise no competition concerns because of its limited impact on the market structure.

The transaction was examined under the simplified merger review procedure, said the Commission. Endit