Private equity firm Blackstone has completed its $26b (£12.69b) takeover of Hilton Hotels Corporation (HHC).
The deal, which was announced on 3 July, sees Blackstone taking on more than 2,800 properties and 480,000 rooms in the Hilton family of brands.
Under the terms of the deal, cleared by the European Commission earlier this week Blackstone will pay HHC shareholders $47.50 (£23.16) per share in cash, valuing the hotel group at about $20b (£9.8b) excluding debt.
As a result of the merger, HHC's shares will cease trading on the New York Stock Exchange.
By Daniel Thomas