Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of joint control over LRG Group by Apollo, RBH, (Nov 13, 2015)

By Linda O’Brien, J.D., LL.M.

The European Commission (EC) has cleared under the European Union (EU) merger regulation the acquisition of joint control over LRG Finance Limited by Redefine BDL Hotels U.K. Limited (RBH), both of the United Kingdom, and Apollo Capital Management L.P. of the United States, the EC announced today. The transaction was examined under the simplified merger review procedure.

LRG operates a portfolio of 22 hotels in the United Kingdom. Apollo invests in equity and debt issued by companies involved in various businesses throughout the world. RBH is an independent hotel management company. The Commission concluded that the proposed acquisition would raise no competition concerns because of its limited impact on the market structure. Furthermore, Apollo does not control any hotels in the United Kingdom, and a significant number of competitors will remain active in the market.

Companies: LRG Finance Limited; Redefine BDL Hotels UK Limited; Apollo Capital Management L.P.

News: AcquisitionsMergers Antitrust