The city of Moscow is planning to divest RUB 13.9 bn (EUR 340 mln) worth of stakes in non-core real estate assets in a bid to boost its finances, business daily Vedomosti reported.

The city of Moscow is planning to divest RUB 13.9 bn (EUR 340 mln) worth of stakes in non-core real estate assets in a bid to boost its finances, business daily Vedomosti reported.

The list of 78 assets on the market in the Russian capital comprises mostly minority stakes in properties including two of the city's biggest sports centres, Olimpyski and Luzhniki, as well as a 30% interest in the centrally-located Evropeiski shopping centre.

According to Vedomosti, the portfolio up for sale also includes a 30% stake in the art nouveau Metropol hotel, and 24.5% in construction company Mospromstroy, which owns a large portfolio of hotels managed by Marriott, InterContinental Hotel's Holiday Inn and Hilton.