STOCKHOLM, Sweden, Nov. 18, 2002 (PRIMEZONE) -- Nordisk Renting AB is in the process of selling the Grand Hotel Saltsjobaden to the international hotel chain, Helnan International Hotels, founded by the Danish-Egyptian hotel magnate Enan Galaly. The sale will enter into force on January 1, 2003. Helnan International Hotels currently owns hotels in Denmark as well as in other parts of the world. The Grand Hotel Saltsjobaden, a masterpiece inspired by the Monte Carlo architectural style of the period, was built in 1892 by K. A. Wallenberg, Swedish banker and politician and has become famous internationally for the "Spirit of Saltsjobaden."
"As operator of a number of historic hotels around the world, I appreciate the important role this hotel has played in Swedish history," said Enan Galaly, President and owner of Helnan International Hotels. "With my Egyptian origins I value historical traditions as represented by the Grand Hotel Saltsjobaden. I have lived most of my life in Denmark and as a Scandinavian I will be looking to identify the historical soul of the hotel which will be developed and encouraged. My objective is to continue local traditions via Swedish management."
Radisson SAS is currently operating the hotel through a management agreement and Helnan International Hotels is holding discussions on a new franchise agreement with Radisson SAS.
"At this point in time, as we sell the historic Grand Hotel Saltsjobaden, we are convinced that the new owner will continue positive development of the existing hotel business," said Ulf Roseen, Deputy CEO of Nordisk Renting.
After this sale, Nordisk Renting still retains ownership of three hotels using Radisson SAS as hotel operator, Radisson SAS Royal Viking Hotel in Stockholm, Radisson SAS Scandinavia Hotel in Gothenburg and Radisson SAS Hotel Basel in Switzerland.
For further information, please contact:
Ulf Roseen, Deputy CEO Nordisk Renting AB Tel. + 46 8 670 98 00 or + 46 70 587 26 70 Enan Galaly, President and owner of Helnan International Hotels Tel. +46 0709- 31 86 85
Nordisk Renting is a specialist property company focusing on long-term, strategic partnerships with financially sound companies and public authorities. Nordisk Renting owns properties worth around SEK 16 billion in Sweden, Finland, Norway, Switzerland and England. Nordisk Renting is owned by Nordea (40%), 3i (35%) and the Sixth Swedish National Pension Fund (25%).
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