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Australia's competition watchdog ACCC to probe Accor buyout of Mantra Group

Staff Writer |
Australia's competition regulator said it will review French hotelier Accor SA's $920 million buyout of Australian hotel operator Mantra Group.

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The Australian Competition and Consumer Commission (ACCC) said it is monitoring the transaction and a "public review will be commenced in due course once certain information is provided by Accor and Mantra."

The deal, a takeover of Australia's second-largest hotelier by its bigger rival, would create the biggest hotel group in the country, with about 50,000 rooms and roughly 11 percent of the market, according to IBISWorld statistics.

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