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DAEWOO SELLS SHARES IN INTERPRED AND SHERATON

Business | July 13, 2001, Friday // 00:00

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Korea`s DAEWOO Corporation, owner of 70% of Interpred-World Trade Centre of Sofia, and of 67% of Sheraton Sofia Hotel Balkan, has asked the Privatisation Agency /PA/ for permission to transfer the shares to one of its subsidiaries. A month ago the Korean press announced that due to financial difficulties DAEWOO would sell its assets in Bulgaria. The new majority owner of Interpred and Sheraton is DAEWOO Engineering & Construction, recently splint from the mother corporation. On Wednesday the PA supervisory board allowed the transfer of shares.

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