Chinese authorities delay approval of Marriott-Starwood merger

taipei-marriott-hotelTaipei Marriott Hotel

THE Chinese Ministry of Commerce (MOFCOM) has requested for an extension of the time period needed to complete its review of the Marriott-Starwood merger transaction.

This additional review period, which Marriott International and Starwood Hotels & Resorts Worldwide complied to, could last up to 60 days.

Approval by MOFCOM is the only remaining merger clearance required before the transaction may close.

Marriott said in a statement released earlier this week that this delay does not mean there are issues relating to anti-competitive in China.

Marriott and Starwood have already received unconditional pre-merger clearances from regulatory authorities representing over 40 countries worldwide, including from Taiwan, Japan, the US and the EU.

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