AFK Sistema to acquire ten Radisson and Olympia Garden hotels in Russia

This is reported by RIA Novosti with reference to the statement of the holding.

We are talking about the Park Inn by Radisson, Radisson Blu, Olympia Garden and Radisson Blu Royal hotels located in four Russian cities. 

The transaction amount will be up to €203 million. The final price will be determined taking into account the financial balances on the accounts of the acquired companies at the date of completion of the purchase.

The acquisition is expected to be completed by the end of the quarter after receiving all regulatory approvals.

In November, Russian President Vladimir Putin allowed Oilfield Services Technologies LLC to acquire the Russian assets of the American multinational oilfield services company Baker Hughes.