Therme Nord Bucuresti, which owns and operates the eponymous aquapark in Balotesti, substantially increased its profit last year, practically tripling its net gain compared to 2017, from 2.8 million RON to 8.9 million RON, following losses of approximately 20.3 million RON in 2016, its first year of operation.
In February 2017, the main associate of BSH Geothermie from Sibiu, which controls Therme Nord Bucuresti, decided to withdraw from the company and sell its stake of over 50% of the capital to the second most important associate, the German firm STL Beteiligungs-AG, for over 2.2 million EUR.
Thus, German citizen Johann Thaddäus Spegel, aged 89, transferred his entire 50.4% stake in BSH Geothermie to another associate, the German firm STL Beteiligungs-AG. The transfer was made at the nominal value of the holding, amounting to 2,217,600 EUR.
Following the transaction, STL Beteiligungs-AG increased its stake in BSH Geothermie to 99.9% of the capital. The remaining 0.1% remained in the possession of the other associate, Geothermie Nord SRL, owned by Robert Hanea from Sibiu and managed by another Sibiu local, Stelian Iacob.
BSH Geothermie owns 73.5% of Therme Nord Bucuresti SRL, which operates the Therme Balotesti aquapark, with the other associate being the Austrian company A-Heat Allied Heat Exchange Technology AG with 26.5%.
Source: Profit
Frequently Asked Questions
What was Therme Bucharest’s profit in 2018?
In 2018, Therme Nord Bucuresti recorded a net profit of 8.9 million RON, tripling its earnings compared to the previous year.
Who owns the Therme complex in Balotesti?
The complex is operated by Therme Nord Bucuresti SRL, owned by BSH Geothermie (73.5%) and A-Heat Allied Heat Exchange Technology AG (26.5%).
What major ownership change occurred at the company?
In 2017, the German firm STL Beteiligungs-AG became the majority shareholder of BSH Geothermie by acquiring a 50.4% stake from Johann Thaddäus Spegel.