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Granada sells off Agip Forte

The Granada Group has sold its 50% stake in Agip Forte International Hotels back to the Italian oil and gas company ENI as part of its programme of reducing debts at Forte.

ENI, which controls the chain of 16 Italian hotels and a new hotel in Hungary through its oil production subsidiary Agip, is now looking for another international partner experienced in the hotel business.

Forte, which was acquired by Granada two years ago, started the venture with ENI in 1992.

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