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May 18, 2021

Pullman Hotel, put on sale in January, for EUR 20 M

The Pullman Hotel of Bucharest (formerly Sofitel) will be put on sale in January for EUR 20 M, in order to partly cover the debts of World Trade Center Bucharest (WTCB), the insolvent company that controls the hotel, sources close to the situation told Mediafax. Remus Borza, manager of Euro Insol, the judiciary administrator of World Trade Center, announced that he considers the variant of a sale. He added that the debts of World Trade Center amount to EUR 90 M, with the biggest creditors being Fondul Proprietatea (85 pc of the sum) and the Bucharest Municipality. Fondul Proprietatea took over a claim from former AVAS, which in turn had received it from the Ministry of Finance. The institution had guaranteed in 1991 a loan which WTCB received from two French banks, but failed to repay. The 4-star hotel has 188 rooms and 15 suites.

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