Starwood Capital to buy stake in Echo Investment - sources

Investment management giant Starwood Capital Group is interested in buying a 45.9-percent stake in Polish property developer Echo Investment, put on sale by Michał Sołowow, according to sources quoted by Puls Biznesu. “Michał Sołowow most likely needs money for the chemical sector,” one of the sources said. “Due diligence is under way,” another said. Sołowow did not answer the newspaper’s queries on the issue. Tom Johnson, spokesperson for Starwood Capital, also declined to comment.