Fondul Proprietatea sells its 12% stake in Engie Romania for EUR 86 mln

Fondul Proprietatea (BVB: FP), through its manager Franklin Templeton International Services, announced on February 20 at the Bucharest Stock Exchange that it has completed the sale of its entire 12% holding in Engie Romania to GDF International, for which it received the sum of RON 432.6 million (some EUR 86 million).

According to the Fund’s investment policy, the amount can be used for buyback programs or proposed for distribution in the form of dividends. As the Fund recorded a loss in 2023, the money will most likely be used to buy back its shares, Ziarul Financiar reported.

The transaction was carried out as a result of the conclusion of a share sale-purchase agreement between the Fund, as the seller, and GDF International SAS, as the buyer, of the entire holding of the Fund in the share capital of Engie Romania SA.

Its completion was conditioned by the approval of the Fund's shareholders, which was obtained during the Extraordinary General Meeting of Shareholders on February 13, 2024.

Following the Transaction, FP no longer holds any shares in Engie Romania.

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