- Query in any language with multilingual search
- Access EUR-Lex and EU Commission case law
- See relevant paragraphs highlighted instantly
Similar Documents
Explore similar documents to your case.We Found Similar Cases for You
BNPP / STARWOOD / HOTEL PORTFOLIO
M.8598
With us you find everything. Try it now!
I imagine what I want to write in my case, I write it in the search engine and I get exactly what I wanted. Thank you!
Valentina R., lawyer
Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
On 4 August 2017, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) 139/2004 by which BNP Paribas Group (“BNPP”) proposes to acquire, within the meaning of Article 3(1)b of the Merger Regulation, indirect sole control over PEH Milan Holdco S.r.l (the “Target Company”), by way of acquisition of shares. The Target Company owns two hotels located in Italy – the Westin Palace hotel in Milan (“Milan Hotel”) and the Westin Europa & Regina hotel in Venice (“Venice Hotel”) (together the “Hotel Portfolio”). By indirectly acquiring sole control of the Target Company, BNPP will also indirectly acquire indirect joint control of the Hotel Portfolio together with Starwood Hotels & Resorts Worldwide, LLC (“Starwood”), an affiliate of Marriott International, Inc. (“Marriott”). Marriott indirectly manages the Milan Hotel and the Venice Hotel on the basis of two respective agreements concluded between Marriott and the Target Company. Both agreements will remain in effect after closing of the Proposed Transaction.
BNPP is a French listed banking group with domestic and international operations which two core businesses are: (i) Retail Banking & Services, and (ii) Corporate & Institutional Banking.
Starwood is a wholly-owned subsidiary of Marriott. Marriott is a diversified hospitality company which acts as a manager and franchisor of hotels and timeshare properties. As of year-end 2016, Marriott operated and franchised some 6,080 properties worldwide.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.