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13 February 2012

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Russian hotel chain Azimut to spend $600m in Germany, Austria

The Russian-owned hotel chain Azimut is to invest $600m by the end of 2010 in hotel assets in Austria and Germany after its owner Central European Holding Investment, backed by entrepreneur Alexander Klyachin, became one of the first Russian firms to expand in the nations by recently acquiring the Vienna-based Austrian Hotel Company.

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