Marriott Buys Protea To Become Africa's Biggest Hotelier

Law360, New York (November 8, 2013, 4:47 PM EST) -- Marriott International Inc. is set to become a hospitality leader in Africa after acquiring South Africa-based Protea Hospitality Holdings Ltd. for an undisclosed amount, the companies said Thursday.

Both Marriott and Protea said that because negotiations are ongoing, they will not release details about the transaction but plan to sign a definitive agreement by the end of the year and consummate the deal in early 2014, if regulators approve it. The Wall Street Journal cited unnamed sources in giving the deal a $200 million price tag....
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