US hotel giant Marriott announced on Wednesday it had finalized a deal to buy the Protea group, Africa's largest hotel chain, for US$186 million.
"Marriott and Protea plan to close the transaction on April 1, 2014," the firm said in a statement.
Based in South Africa, Protea manages 10,148 rooms in 116 hotels in 8 African countries including: Malawi, Namibia, Nigeria, South Africa, Uganda, Tanzania and Zambia.
The Nasdaq-listed Marriott Group has 3,900 properties around the world
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