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London-listed TBIL to sell Europe Palace for 1.5 million euro

Thu, Nov 04 2010 08:24 CET

byDnevnik.bg

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London-listed TBIL to sell Europe Palace for 1.5 million euro

Photo: Reuters

Investment fund Trans Balkan Investments Limited (TBIL) will sell Sofia's former cinema Europe Palace within the next few days, the company said.

The London-listed fund, earlier known as Equest Investments Balkans, will sell the site to a property company for 1.5 million euro, TBIL said.

The fund said it had reached a preliminary agreement on the sale of another defunct cinema hall, Urvich, but did not reveal the buyer and the price.

Meanwhile, TBIL is still in discussions with DSK Bank and its majority shareholder, Hungarian OTP Bank, on financing its Hotel and Spa project in the village of Banya. No definitive decision on TBIL's Sozopolis Resort project has been made yet, it said.

Source: Dnevnik.bg

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