The municipality of Moscow has announced plans to sell a 9.64% stake in JSC World Trade Center, the company that owns the 270,000 m[sup]2[/sup] World Trade Center mixed-use centre.
The municipality of Moscow has announced plans to sell a 9.64% stake in JSC World Trade Center, the company that owns the 270,000 m2 World Trade Center mixed-use centre.
The starting price at the auction, which is to take place on 26 September, has been set at over RUB 1.4 bn (EUR 36 mln).
The asset is the latest to be put up for sale by the local government as part of its privatisation programme. Last week, the city sold off the Hotel Metropol, a Russian architectural landmark, at an auction for RUB 8.87 bn (EUR 220 mln). The buyer is a subsidiary of the current operator of the five-star hotel.
The Moscow municipality is understood to be looking for a buyer for further assets including the Gostiny Dvor Exhibition Center and Vnukovo International Airport.
