Mantra’s sale is past first hurdle
MANTRA Group has cleared the first regulatory hurdle in its billion-dollar sale to AccorHotels.
The company confirmed to the ASX a condition of its contract that required clearance under the New Zealand Commerce Act had been waived.
The Federal Court, the Foreign Investment Review Board and the Australian Competition and Consumer Commission are yet to approve it.
Mantra shareholders are expected to vote on the deal in March.