Luxten Lighting Company has decided to “forgive” the company Le Manoir Gastronomie, where it is a shareholder, of a debt of 6.39 million RON dating from 2009, converting the debt into shares through a capital increase.
Le Manoir Gastronomie was founded in 2009 by Luxten and the company Le Manoir owned by Cristian and Maria Preotu, the purpose of the association being the development of the 5-star Lux Garden hotel business owned by Luxten in Azuga. Initially, Luxten controlled 75% of the capital of Le Manoir Gastronomie, a company whose object of activity is hotels, and the Preotu spouses – 25%.
Following the capital increase carried out through the conversion of the 6.39 million RON debt, Luxten Lighting Company currently owns almost entirely Le Manoir Gastronomie, with the Preotu spouses remaining with a 0.42% stake, according to data from the Trade Register.
The Lux Garden Hotel in Azuga was inaugurated in 2008 after an investment estimated at that time by tourism experts at about 6-7 million EUR. The hotel is built on a plot of land with an area of about 6,000 sqm and is located at the base of the Sorica ski slope. It has 50 rooms and features a restaurant with 100 seats, two conference rooms, a swimming pool, a jacuzzi, as well as a fitness and massage center.
Luxten intends to open another tourist facility in Azuga, with shareholders recently approving the acquisition of land in the locality for this purpose.
Source: Profit
Frequently Asked Questions
What was the value of the debt converted into shares?
The debt amounted to 6.39 million RON and dated back to 2009.
Where is the Lux Garden Hotel located?
The 5-star hotel is located at the base of the Sorica ski slope in Azuga.
What are Luxten’s future plans in Azuga?
Luxten plans to open a second tourist facility in the area, having already approved the purchase of land for this purpose.