Mergers: Commission clears acquisition of the Rimrock Resort Hotel by Parks Bottom, Oxford and Accor

Daily News 17 / 05 / 2023


Economia - pubblicata il 23 Maggio 2023


https://www.trevisobellunosystem.com/wp-content/uploads/2022/05/EU_Commissione_Europea.jpg

Source: European Commission Spokesperson’s Service

 

 

 

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of the Rimrock Resort Hotel by Parks Bottom Co Real Estate Holdings Inc. (‘Parks Bottom’), Oxford Properties (‘Oxford’) and Accor Management Canada Inc. (‘Accor’), all of Canada.

The Rimrock Resort Hotel is a resort hotel located in Banff, Alberta, Canada. Parks Bottom owns real estate assets on behalf of the Government of Singapore. Oxford belongs to the OMERS Administration Corporation, a global real estate owner, investor, developer and property manager. Oxford invests globally in real estate assets. Accor operates hotels across Canada.

The Commission concluded that the proposed acquisition would raise no competition concerns, given that the Rimrock Resort Hotel does not have any activities within the European Economic Area. The transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.11015.

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