Marriott is preparing to become the largest hotel chain in the world. The Chinese Ministry of Commerce has given the green light to Marriott International's planned acquisition of Starwood Hotels & Resorts Worldwide. The merger had already received the green light from over 40 countries including the US and the EU.
This is the last regulatory step necessary for the completion of the merger which could now be concluded before the opening of the markets on September 23rd, in line with the expectations of the shareholders who will receive what was foreseen and established by the agreement reached last April 2016 , after the withdrawal of China's Anbang Insurance Group.
Marriott will invest $12,2 billion in the acquisition to create a 1,1-million-room behemoth in more than 5.500 hotels in 100 countries.
