Spain: Regulator gives Blackstone green light – will become largest hotel operator in Spain

Spain’s National Commission of Markets and Competition (CNMC) has authorized US-based investment fund Blackstone to take control of the Hispania business group,through a takeover bid, in a deal valued at €1.9 billion (US$2.3 billion). The takeover will make the fund the largest hotel operator in the country.

Blackstone obtained the green light from the CNMC, pending approval by the National Securities Market Commission (CNMV). Hispania describing the take-over as hostile.

With its acquisition of Hispania, Blackstone seeks to form a “giant” of hotel assets, given that it would become the largest owner of this type of establishment in the country after adding the 46 hotels of Hispania to fourteen similar establishments acquired last year.

Full Content: El Confidencial

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.