Press Release: Mergers: Commission approves joint acquisition of 23 Le Meridien hotels by Lehman Brothers, SCG and Starwood

The European Commission on 20 July 2005 cleared under the EU Merger Regulation the acquisition of 23 Le Meridien hotels, by the US firms Lehman Brothers, Starwood Capital Group (SCG) and Starwood Hotels & Resorts Worldwide (Starwood). After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. London-based Le Meridien is a global hotel group with a portfolio of more than 130 luxury and upscale hotels in 56 countries worldwide.