Romania's Fondul Proprietatea sells 2.4% stake in BRD-SocGen for EUR 42.3 mln

Romanian investment fund Fondul Proprietatea has sold its 2.4% stake in BRD-SocGen for RON 201 million (EUR 42.3 mln).

The transaction took place in the first semester of 2019. The fund has thus marked its successful exit from the Romanian banking system, according to data aggregated by Ziarul Financiar from the fund’s the half-year report.

In the first six months of 2019, Fondul Proprietatea sold its entire 2.4% stake in BRD Groupe Société Générale SA, for a total value of RON 201 mln.

The net value of the assets in FP’s portfolio was estimated at RON 10.7 bln (EUR 2.26 bln) at the end of June, up 9.7% year-on year and 5.0% year-to-date. Out of this, RON 4.14 bln is the value of FP’s participation in state-owned power producer Hidroelectrica.

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