September 20, 2016 / 1:12 PM / a year ago

China approves Marriott's deal to buy Starwood

Sept 20 (Reuters) - Chinese antitrust regulators approved Marriott International Inc’s deal to buy Starwood Hotels & Resorts Worldwide Inc, clearing the way for the combined company to become the world’s largest hotel group.

China’s Ministry of Commerce (MOFCOM) was the only review pending after the companies secured premerger approvals from more than 40 countries including the United States, the European Union and Canada.

The combined company will have an enterprise value of $36 billion and 1.1 million hotel rooms.

Marriott and Starwood expect the transaction to be completed before the market opens on Sept. 23. (Reporting by Rachit Vats in Bengaluru; Editing by Maju Samuel)

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