Teleferic Prahova
Learn how Wolf managed to acquire the majority stake in the company that operates one of the most scenic cable routes in Europe
Date
2018-2026
Teleferic Prahova - OVERVIEW
- Operates cable cars & ski lines in Bușteni and Predeal
- Company assets are worth 20 Million Euros
- The Busteni-Babele-Pestera line is regarded as a feast of engineering marvel
The Management Problem
- Due to poor management, bad faith & utter lack of interest, the company has never reached its true potential
- For years it has failed to repay its debt
- Total debt has reached over 2 million Euros
- Former executives tried to sell company assets for personal gain
Wolf Takeover (2018-2026)
- Debt owed by Teleferic Prahova is sistematically purchased by Wolf (starting 2018)
- Following the conversion of debt into share capital, Wolf now owns the majority stake in the company
- Wolf files for bankruptcy in order to purge all former executives that were clinging to power
- Following a multi-year battle, the court approves Wolf's financial reorganization plan
- 2025 - A special judicial administrator is appointed for a limited period
- 2026 - As Wolf prepares to assume operational control, new management will be named
TELEFERIC CABLE ROUTES - DETAILED VIEW
