Poland's Orbis says has deal to sell Lodz hotel for 73.5 mln zlotys

WARSAW (Thomson Financial) - Poland's hotel and services company Orbis has reached an initial agreement to sell a hotel in the centre of Lodz, central Poland, for 73.48 mln zlotys, the company said in a statement.

Earlier, trade in Orbis shares was suspended until 2.45 pm, pending a regulatory filing.

Orbis, 45-pct owned by France's Accor, expects the sale to close by the end of this year. The company had 88.9 mln zlotys in net profit last year.
Source: By Piotr Skolimowski, forbes.com