AccorHotels announced that it has cleared all antitrust approvals in relevant jurisdictions, satisfying one of the closing conditions of the pending acquisition of Fairmont Raffles Hotels International (FRHI).
The next step to finalize this acquisition will be AccorHotels' Extraordinary Shareholders meeting to approve reserved capital increase and board representations for Qatar Investment Authority and Kingdom Holding. This meeting should be convened in the coming weeks.
The purchase of FRHI by AccorHotels is expected to close mid-2016. The original announcement that AccorHotels was planning to acquire FRHI was made public late in December 2015.
