Watchdog clears €455m Moran Bewley deal

The State’s mergers watchdog has approved Dalata Hotel Group’s €455 million takeover of most of rival Moran Bewley group.

Dalata shareholders approved the deal at meeting early in January, but the Competition and Markets Authority (CMA) had to clear the deal before it could go ahead.

It is understood that the authority, responsible for policing mergers and take overs in the Republic, cleared the transaction late on Thursday.

The hotel group is due to inform the markets on Friday morning. The CMA is also likely to make a statement confirming that it has given the purchase the green light.

Its approval means that Dublin-listed Dalata can now move to take over nine Moran Bewley hotels in Ireland and Britain.

One hotel not included in the deal is the landmark Red Cow on Dublin’s outskirts. Businessman Tom Moran, who founded the Bewley Moran chain, will keep this property.