The Norwegian family-owned company Wenaas Group announced that it is selling its Russian hotels for €400 million: Russian authorities decided that all business deals with companies from “unfriendly countries” are to be subjected to a minimum of 50% “discount”, and that 10% of all those deals are to be expropriated. The buyer is the Russian investment group ‘Sistema’ controlled by Vladimir Yevtushenko, an ultra-rich businessman sanctioned by several countries: the hotels will be included in Systema’s subsidiary ‘Cosmos Hotel Group’.
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