The State’s mergers watchdog has approved Dalata Hotel Group’s € 455 million takeover of most of rival Moran Bewley group.
Dalata shareholders approved the deal at meeting early in January, but the Competition and Consumer Protection Commission (CCPC) had to clear the deal before it could go ahead. In an announcement to the stock exchange on Friday morning, Dalata confirmed that it has received CCPC approval for the deal.
The approval means that Dublin-listed Dalata can now move to take over nine Moran Bewley hotels in Ireland and Britain.
One hotel not included in the deal is the landmark Red Cow on Dublin’s outskirts. Businessman Tom Moran, who founded the Bewley Moran chain, will keep this property.
In its stock exchange announcement Dalata said that an updated timetable to completion and admission of the placing shares will be announced shortly.
