Posted On 22 Apr 2016
The Chairman of the Board of the Ecuadorian Institute of Social Security (IESS), Richard Espinosa, confirmed via Twitter that the traditional Quito Hotel, which was owned by the institution, was bought by an international company through the stock exchange.
The price reached was $ 30’827.333, the official confirmed.
IESS sources explained that the identity of the investor can not be disclosed, due to secrecy issues. However it became known that the auction process started this morning at 11:30 and the adjudication took place at 12:20.
According to the president of the IESS, the money raised will be invested for the benefit of the social security members.