ACCC clears AccorHotels acquisition of Mantra Group Ltd
AccorHotels has welcomed the Australian Competition and Consumer Commission (ACCC) decision to clear the acquisition of Mantra group Ltd.
The acquisition still requires approval from Mantra shareholders as well as approvals from the Federal Court and the Foreign Investment Review Board.
Mantra is one of Australia’s largest hotel and resort marketers and operators with 127 properties and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii, under three key brands: Peppers (28 properties), Mantra (75 properties) and BreakFree (24 properties). Mantra has more than 5,500 employees.
The acquisition is likely to materialise in the second quarter of 2018.