Sołowow to sell Echo Investment stakes to Griffin Real Estate
14:01
Polish billionaire Michał Sołowow, the owner of 41.55 percent of developer Echo Investment (EI) shares, will sell his stakes to Luxembourg's Griffin Real Estate and U.S. investment fund Pimco, the ISBnews agency reported.
The deal was signed on February 28, it needs to be approved by the UOKiK, Polish anti-monopoly watchdog.
Sołowow revealed his plans on selling his stakes in EI in July 2014. In mid-January 2015, the media informed that Griffin is interested in buying them.
WSE listed EI has a total market value of $720 million.
