09:23 AM EDT, 10/29/2024 (MT Newswires) -- KKR's (KKR) proposed joint venture with The Baupost Group has been approved by the European Commission, the Commission said on Tuesday.

The joint venture mainly relates to the hotel sector and plans to acquire a 33-asset hotel portfolio based in the UK that will operate under the Marriott and Delta by Marriott brands.

The Commission said its decision was based on its opinion that the joint venture "would not raise competition concerns, given the limited impact on the European Economic Area."

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