Pol-Mot Holding hands over Hilton construction to Trylbi group

Pol-Mot Holding, a company selling cars and investing in real estate, sold its 100% stake in Grzybowska Centrum, a partnership set up in order to construct the 5-star Hilton hotel in Warsaw, to Israeli-American Trylbi group for $19.6 million. "We will finalize the deal this week," said deputy president of Grzybowska Centrum Jakub Goldzak. Pol-Mot refused to comment on the reasons behind the sale. The estimated cost to build the Hilton is $50 million. "The Trylbi group has already spent zl. 68 million. We hope that we will soon finish negotiations with one of two banking groups on project finance," explained Goldzak. He stated that the hotel would not be threatened by low demand, as it will have a designated conference hall to accommodate 3,000 participants. (Puls Biznesu, p. 11) M.M.