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Article: Nafta Co to take majority stake in new Moscow hotel group.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- November 21, 2006
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Nafta Co to take majority stake in new Moscow hotel group
MOSCOW. Nov 21 (Interfax) - The Moscow city government and OOO Nafta Co. are creating Obyedinyonnaya Gostinichnaya Kompaniya (United Hotel Company or OGK) with charter capital of several billion dollars, Iosif Ordzhonikidze, Moscow deputy mayor for international and foreign economic ties, said at a briefing Tuesday.
In the new joint-stock company, Moscow will own 49% shares, Nafta will finance the remaining 51% with cash, he said.
"Currently Moscow has five hotels classified as state unitary enterprises, 20 hotels are open joint stock companies with 100% stake held by the city and four ...