SYDNEY, Oct 18 (Reuters) - Australia’s competition regulator said on Wednesday it will review French hotelier Accor SA’s $920 million buyout of Australian hotel operator Mantra Group Ltd.
The Australian Competition and Consumer Commission (ACCC) said it is monitoring the transaction and a “public review will be commenced in due course once certain information is provided by Accor and Mantra”.
The deal, a takeover of Australia’s second-largest hotelier by its bigger rival, would create the biggest hotel group in the country, with about 50,000 rooms and roughly 11 percent of the market, according to IBISWorld statistics. (Reporting by Tom Westbrook; Editing by Edwina Gibbs)
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