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Article: Luxembourg Firm Buys S.Korea Hilton
- Article from:
- AP Online
- Article date:
- June 18, 1999
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Copyright informationThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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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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