LSR Group acquired a company in Sochi for beach improvement
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LSR Group acquired 100% of the authorized capital of Cote d’Azur LLC, registered in Sochi, follows from the data of the Unified State Register of Legal Entities, to which Interfax drew attention. Changes to information about the legal entity were made on September 27.
Previously, Cote d’Azur belonged to three citizens of the Russian Federation – Sergei Bondarev (50% of the authorized capital), Sergei Kovalev (25%) and Andrei Presnyakov (25%). As Interfax was told by the LSR Group, the deal allowed the company to obtain the rights to improve the beach strip located near the Volna sanatorium and the Kristall boarding house.
In 2021, LSR Group acquired 92.31% of the shares of Kristall and 94.12% of the shares of Volna. They are located in the Khostinsky district of Sochi. The company plans to invest about 25 billion rubles in the reconstruction of facilities, creating a single hotel complex with 700 rooms. The work is scheduled to be completed in 2024.
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