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Binbank to Bid in $143 Million Moscow Hotel Sale, Vedomosti Says

Mikhail Shishkhanov, president of Binbank and nephew of Russian billionaire Mikhail Gutseriev, plans to bid in the Moscow city government’s auction for the National Hotel near the Kremlin tomorrow, Vedomosti said.

City hall set a starting price of 4.58 billion rubles ($143 million) for its 100 percent stake in the property, the Moscow-based newspaper said. Shishkhanov already owns 49 percent stake in the neighboring Moskva hotel, according to Vedomosti.