Americom Joins in Moscow Venture: Americom International...

Americom Joins in Moscow Venture: Americom International Corp. of Irvine said it has signed an agreement with Radisson Hotel Corp. for a joint venture with the Soviet tourism agency, Intourist, to develop a hotel and business complex in Moscow. Americom, a publicly held company formed to pursue real estate development projects in the Soviet Union, said the venture plans to build a 600-room hotel in downtown Moscow. The hotel would contain 415 guest rooms and a 165-suite office complex. The project is scheduled for completion in 1990, Americom said. Americom and Radisson together will provide $10 million in cash for the venture, and Americom has committed to raising an additional $8 million. Americom said the deal is subject to completion of a final agreement between the two U.S. companies and Intourist.