Polimex-Mostostal sold real estate - the former ‘Warszawa’ hotel.

Polimex-Mostostal has successfully terminated the negotiations with potential investors interested in the purchase of ‘Warszawa’ hotel.

The sale transaction took place on 31 December 2009.

In the same time, Polimer-Mostostal has signed an agreement on general construction works within the object with the purchaser, for the gross value of over 90 million PLN, with a possibility to expand the works and increase the contract value after the performance documentation has been prepared.

The commencement of the construction works is expected for spring this year after previous completion of the permit formalities.

The purchaser is a group of natural persons.