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COMPETITION ON SALE OF ACTIONS OF HOTEL "NOVOSIBIRSK" OF 5 PERCENTS HAS NOT TAKEN PLACE

				
				
				
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COMPETITION ON SALE OF ACTIONS OF HOTEL "NOVOSIBIRSK" OF 5 PERCENTS HAS NOT TAKEN PLACE
IN THE ABSENCE OF DEMANDS.
       Novosibirsk, on July, 5th. A/PRIME-TASS/. Commercial competition with
Investment conditions on sale of actions of one of 5 percents of most
Large hotels of a city "Novosibirsk" on Friday has not taken place because of
Absence of demands, have informed the PRIME-TASS in committee of the mayoralty on management
The state property/KUGI/.
      On the auctions 29717 actions by face value 100 rub on the starting were exposed
To the price 2971,7 tys rub and the minimum size of investments into 1,333 million rbl.
      The auctions on sale of two more packages on 5 percents of actions of hotel with
The same starting price and the sum of investments on each package should
To pass on July, 9th and 16. In a case if also these packages will not be sold,
KUGI the mayoralties will expose them on sale again in the autumn.
     As have explained the PRIME-TASS in the mayoralty, earlier, when the decision was made
About sale of actions of hotel, a number of travel agencies of a city and region
Have been interested in such acquisition, however because of the financial
Problems all of them have refused subsequently the intentions.
      Ustavnyj Open Society capital "Hotel Novosibirsk" - 59,434 million rbl.
The hotel has 25 floors, the total area is calculated on 1000 places, -
22386,4 kv m. the Basic shareholder - the mayoralty of Novosibirsk/50,01 percents
Actions/, at labour collective of 5 percents the Remained 44,99 percents KUGI
The mayoralties namereno to sell at commercial competition with the investment
Conditions. In July it was supposed to realise 15 percents of actions three
paketami. - 0 - dk/nb
//* an information Source: the Prime-TASS, 5.07.99
//* Reg. Nom. - 1090700065.58-------------------------------------------