SHERATON SOFIA AND INTERPRED TO BE SOLD BY DAEWOO

Business | June 20, 2001, Wednesday // 00:00

Daewoo, South Korean corporation, suffering during the last couple of years deep crisis intends to sell out Sheraton Sofia and World Trade Center `Wall Street Journal Asia` reported. The two buildings and a business center in Poland will be sold out till the end of June but no details were revealed. The Korean daily `Korea Herald` said that the deal will amount to $120 M. Currently the holding is restructuring thus selling some of its subsidiaries in the construction, electronics, shipbuilding and telecommunication sectors. Since 1996 Daewoo is owner of the 67% share of the Sheraton Sofia Hotel Balkan. The building of the World Trade Center Interpred is among other property of the South Korean corporation in Bulgaria.

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