Aroma Investments Entrusted 1/3 Of Astoria

The Property Fund has given OOO Aroma Investments, the winner of the commercial tender for the sale of a 35% share packet in the Astoria hotel, the right to participate in the company's shareholders' meetings.

<BR>The Property Fund has given OOO Aroma Investments, the winner of the commercial tender for the sale of a 35% share packet in the Astoria hotel, the right to participate in the company's shareholders' meetings.<BR>The tender selling the last share packet in the hotel belonging to the city were held in July 1998. The company Aroma Investments agreed to pay 34,083,490 roubles for the packet, while the starting price was 33,330,000 roubles. After Aroma paid the money to the Property Fund, it received the right to participate at shareholders' meetings. According to Leonid Deshin, the St Petersburg Property Fund's deputy head of state property sales, Aroma Investments will become a fully-fledged owner of 35% of shares after it fulfills the tender's investment conditions: before November the company has to transfer $3.7m to the hotel's account. This money will go toward buying non-residential property at 10-12 Voznesensky Prospect. <BR>OOO Aroma Investments belongs to Swiss company Sphinx S.A. which was acquired by the company Golden Spirits (UK) to develop a new area of its activity, the hotel business. In early 1996 Golden Spirits built an alcoholic drinks factory, AFB P, at a cost of%12m. It also owns a large share packet in ZAO LIVIZ.