EU approves Scandic sale
AFP · 26 Apr 2007, 14:19
Published: 26 Apr 2007 14:19 GMT+02:00
"After examining the operation, the (European) Commission concluded that the transaction would not significantly impede effective competition," the EU antitrust watchdog said in a statement.
Hilton Hotels announced in March that it would sell Scandic for €833 million ($1.1 billion) to EQT, which is controlled by Northern Europe's biggest industrial holding company Investor.
Scandic is the biggest hotel operator in Scandinavia and operates 132 sites in the region.