Scandic completes acquisition of Restel
Today, December 29, Scandic completed the acquisition of Restel’s hotel operations in Finland.On June 21, 2017, Scandic announced the acquisition of Restel’s hotel operations in Finland. On December 5, the transaction was approved by the Finnish Competition and Consumer Authority subject to the divestment of one hotel in Lahti, one in Pori and one in Kuopio. Additionally, Scandic has committed not to participate in certain announced hotel projects in Lappeenranta and Vantaa. On a pro forma basis, if the acquisition had been carried out on January 1, 2016, the acquired operations would