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City Plans Property Sales

The Moscow city government has decided to auction a 64 percent stake in Olimpiisky Sports Complex, Deputy Mayor Natalya Sergunina said in comments carried by Interfax.

"There are plans to offer for sale a consolidated stake in Olimpiisky Sports Complex in the amount of 64 percent. The tentative timing for holding the auction is the end of the second quarter of 2013," Sergunina said at the MIPIM international commercial real estate fair in Cannes last week.

She also said the city was considering selling large stakes in the Bitsa Equestrian Center, the Moscow United Energy Company and the Moscow Pipe-Coating Plant, in which it owns 100 percent, 89.94 percent and 100 percent stakes, respectively.


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