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EMPRESAS ICA ANNOUNCES THE EQUITY RESTRUCTURING OF THE RADISSON CHAIN IN MEXICO

 MEXICO CITY, Sept. 13 /PRNewswire/ -- Empresas ICA Sociedad Controladora S.A. de C.V. (NYSE: ICA), Mexico's largest construction company, today announced an agreement with Situr, a subsidiary of Grupo Sidek, to restructure the equity participation of each party in the Radisson hotel chain in Mexico.
 Until 1992, ICA, in association with Banco Nacional de Mexico, S.A. ("Banamex"), owned and operated five hotels and operated an additional six hotels of the Radisson chain in Mexico, under a franchise arrangement with the Carlson Hospitality Group.
 In May 1993, Banamex's subsidiary, Promociones Turisticas Banamex, announced a strategic alliance with Situr, pursuant to which Banamex transferred its equity interest in the Radisson chain to Situr.
 Under the ICA-Situr agreement announced today, ICA will hold a 100 percent equity interest in the Radisson Perisur Hotel in Mexico City. ICA's equity interest in the other Radisson Hotels will be sold to Situr. In addition, ICA transferred its 50 percent equity interest in the management company operating the Radisson hotel chain in Mexico in exchange for the right to operate the Radisson Perisur Hotel in Mexico City. The Radisson Perisur Hotel will continue operating under the Radisson name pursuant to a franchise arrangement with the Carlson Hospitality Group.
 Empresas ICA Sociedad Controladora, S.A. de C.V. is the largest construction company in Mexico. It is engaged in a full range of construction and related activities. ICA constructs infrastructural facilities, as well as industrial, urban and housing construction for both the Mexican public and private sectors. ICA is also involved in the construction, maintenance and operation of highways, bridges and tunnels under concessions and in the management and operation of water supply systems granted by the Mexican government. In addition, ICA manufactures and markets industrial goods and owns and operates hotels. The company is involved in the quarrying and marketing of construction aggregates, particularly limestone.
 -0- 9/13/93
 /CONTACT: Javier Mora of Grupo ICA, 011-525-227-5047, or Cathleen Mayrose of Dewe Rogerson, 212-688-6840/
 (ICA)


CO: Empresas ICA Sociedad Controladora S.A. de C.V. ST: IN: CST SU: RCN

TW-WB -- NY049 -- 1295 09/13/93 12:10 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
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