Binbank CEO Michael Shishkhanov has declared his intent to buy a 49% stake belonging to Hotel Company in DekMos, the company currently developing the Moscow Hotel near the Kremlin, the banker’s spokesman has said. The remaining 51% in DekMos belong on parity to Suleiman Kerimov, and Arkady Rotenberg. The total area of the facility is 185,000sqm, 73,000sqm of will be used to run hotel operations, and the rest will be occupied by a shopping gallery, offices and conference center. After completion, expected in 2012, partners will share the object. Shishkhanov will get the hotel, while the other co-owners, will have the rest. The funds received from Shishkhanov will be used to buy off the U.S. perfume magnate, Ronald Lauder, who has decided to exit the joint venture.
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