Ghita and Stanciu took out loans of EUR2 million each, and the loans were guaranteed with Asesoft Web shares, which are equally owned by the two.
“The contract with BRD was signed in May and the one with UniCredit in June. We’ve unfolded a similar operation in 2009, when a EUR3 million loan from BRD capitalized the emag.ro website,” Stanciu told MEDIAFAX.
In September 2010, Asesoft Web bought a 60% stake in Flanco Retail, which operates the Flanco International business, following an insolvency procedure launched against both Flanco and its then owner, Flamingo.
Flanco Retail is one of the largest local retailers of electronics and IT products. Flanco Retail operates the Flanco and Flanco World stores, which have a total 75 units between them.