Sołowow to sell Echo Investment – paper

Michał Sołowow, one of the richest Polish investors, is looking for a buyer for his share in property developer Echo Investment, Puls Biznesu reports. The 45-percent stake is valued at between PLN 1.3-1.5 billion. A financial market source told the daily that Citibank was hired as an advisor in the sale process. Sołowow himself declined to comment on the reports. The investor has held a stake in Echo Investment for 18 years. Over that time the company has carried out projects with a total area of 1 million sqm, according to data provided by its CEO, Piotr Gromniak.