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City to sell stake in Radisson hotel

Jun 19, 2003
Baltic News Service

RIGAThe Riga City Council on June 17 decided to privatize municipal shares in Radisson SAS Daugava, one of the largest hotels in the Latvian capital.BDO Invest Riga auditors have assessed total value of the hotel as 6.9 million lats (10.3 million euros), and the value of municipal holdings in Radisson SAS Daugava was determined as 2.5 million lats. The City Council must first draft privatization regulations specifying the manner and price for the sell-off. The municipality-owned shares - 45 perc ...

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