Article: Luxembourg Firm Buys S.Korea Hilton


AP Online
06-18-1999
Luxembourg Firm Buys S.Korea Hilton

SEOUL, South Korea (AP) -- General Mediterranean Holding Co., an investment firm based in Luxembourg, agreed Friday to buy the Hilton Hotel in Seoul for $215 million.

The hotel is currently owned by South Korea's Daewoo Group, which is trying to sell assets to improve its financial position.

President Kim Dae-jung is urging the nation's top five conglomerates -- Hyundai, Daewoo, Samsung, LG and SK -- to unload subsidiaries to improve ...

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