CORINTHIA GROUP REPORTED TO ACQUIRE SHERATON

Politics | September 17, 2001, Monday // 00:00

The Malta `Corinthia Group` is to acquire the luxury hotel `Sheraton Sofia Balkan,` Trud Daily wrote. It was announced a week ago that the majority owner Daewoo Engineering & Construction Co. agreed to sell its 67% share hotel unit to an unknown Malta hotel company for $23.5 M. According to Trud Daily, this unknown company is `Corinthia Group`. It is considered that the sale of the majority share of `Sheraton Sofia Balkan` will automatically result in purchasing of the rest of the shares. The only thing necessary for the finalization of the deal with `Corinthia Group` is the company` registration in the Bulgarian Stock Exchange as owner of the hotel, Trud Daily wrote.

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