SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP
SOL MELIA ANNUAL REPORT 00 COMP
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INVESTMENTS<br />
Sol Meliá, S.A is the holder of two bank deposits in Italian Lira for an equivalent in pesetas of 2,061 million, which<br />
guarantee credit transactions of the subsidiary Inmotel Inversiones Italia, S.R.L., in relation to the construction of a<br />
hotel in Milan.<br />
Grupo Sol Asia Ltd. has granted a loan of US-$ 2.5 million to the hotel Sol Twin Towers (Golden Asset Company Ltd.)<br />
which bears interest at the rate of LIBOR plus 2%. Steps are being taken to recover the loan, nevertheless, in case of nonpayment,<br />
this balance would be covered by the provision for liabilities and charges.<br />
The loans granted to Aurelia Centro SRL. for Lira 1.7 million and up to Euros 1.8 million are intended to finance its trading<br />
activities.<br />
The loan to Hotel Cibeles, S.A. bears no interest.<br />
The loan granted to Muna Turizm, AS up to 5 million German Marks is intended to finance its trading activities.<br />
The disposal in the deferred tax assets balance is explained in Note 22.<br />
S OL<br />
M ELIÁ<br />
A NNUAL R EPORT 2<strong>00</strong>0<br />
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