EU approves Scandic sale
AFP - [email protected]
Published: 26 Apr, 2007 CET.
Updated: Thu 26 Apr 2007 14:19 CET
EU regulators approved on Thursday Hilton Hotels' sale of its Scandinavian hotels chain Scandic to Swedish private equity fund EQT.
"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.
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"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.
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