The Competition and Consumer Protection Commission (CCPC) will reportedly investigate German group Dekabank's takeover of Dublin's Gibson Hotel, which hit the market for €87 million in August.
CCPC announced on Wednesday (November 8) that competition regulators will be looking into the sale before deciding whether to approve the hotel's purchase by Deka, as reported by The Irish Times.
Deka intends on purchasing a long lease on the hotel, which is currently let to a subsidiary of the Dalata group. However, the scale of the business requires the CCPC to approve the sale before it can be completed.
The phase-one investigation that will undertaken by the CCPC can take up to 30 working days. Once this initial investigation is complete, the CCPC will rule on whether to green light the deal or proceed with a more detailed phase-two inquiry.
