You need to get the car for free, or VERY close to it. The 16V engine is REALLY expensive, and your repair bill will easily reach what it costs to buy a nice 16V with a still-good engine.
Why on earth does it need a new engine? A friend of mine owns my 'ol 16V, and it's over 500,000 kilometers, and the bottom end is still tight and strong. Those engines are nearly unburstable.
Also, grey market cars can be troublesome on their own, given unpredictable climates conerning emission regulations and so on.
Sounds like one giant wallet-busting headache just waiting to happen.
1998 C230 "Black Betty"