Saudi gives consent for Marriott Starwood merger
Mexico gives its authorisation as well, as groups await only China to give its antitrust authorisation consent
Marriott International has received authorisation from competition authorities in Saudi Arabia and Mexico to proceed with its acquisition of Starwood Hotels & Resorts in a merger transaction, a company statement said.
Late last month the EU gave its consent as well making China the only remaining country in which Marriott and Starwood require a pre-merger authorisation.
The statement from Marriott said that Marriott and Starwood continue to cooperate with the Chinese regulatory agency (MOFCOM) and will be prepared to close the transaction promptly upon receiving authorisation from China.
Stockholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction on April 8.
Until legal close, the companies will continue to operate as separate and independent entities.