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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania's biggest investment fund to set dissolution deadline

The shareholders of the biggest Romanian investment fund - Fondul Proprietatea (FP) - will be invited to vote for setting 2031 as the Fund's deadline, Profit.ro reported.

The shareholders' vote would naturally follow the strategy of gradually liquidating Fondul Proprietatea's holdings in the last ten years by selling assets from the portfolio and distributing the cash to shareholders.

Fondul Proprietatea has halved its size to EUR 2 billion in the last decade, and keeping this pace would indeed bring the Fund into the position of self-dissolution.

Ovidiu Fer, one of those who brokered the sale of substantial packages to Elliott (one of Fondul Proprietatea's significant shareholders), ran for a position on the Committee of Representatives on a platform promoting an even faster liquidation, but he did not receive the shareholders' vote.  He proposed a more active attitude towards selling illiquid holdings.

Fondul Proprietatea sold its easier-to-sell stakes in listed companies such as Transelectrica (TEL), Transgaz (TGN), Romgaz (SNG), or Conpet (COTE), and significantly reduced its holdings in OMV Petrom (SNP).

The Fund now manages a rather illiquid portfolio, which includes stakes in unlisted state-owned companies such as Hidroelectrica, Salrom, and Bucharest Airports, among others.

(Photo: Maximusnd/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania's biggest investment fund to set dissolution deadline

The shareholders of the biggest Romanian investment fund - Fondul Proprietatea (FP) - will be invited to vote for setting 2031 as the Fund's deadline, Profit.ro reported.

The shareholders' vote would naturally follow the strategy of gradually liquidating Fondul Proprietatea's holdings in the last ten years by selling assets from the portfolio and distributing the cash to shareholders.

Fondul Proprietatea has halved its size to EUR 2 billion in the last decade, and keeping this pace would indeed bring the Fund into the position of self-dissolution.

Ovidiu Fer, one of those who brokered the sale of substantial packages to Elliott (one of Fondul Proprietatea's significant shareholders), ran for a position on the Committee of Representatives on a platform promoting an even faster liquidation, but he did not receive the shareholders' vote.  He proposed a more active attitude towards selling illiquid holdings.

Fondul Proprietatea sold its easier-to-sell stakes in listed companies such as Transelectrica (TEL), Transgaz (TGN), Romgaz (SNG), or Conpet (COTE), and significantly reduced its holdings in OMV Petrom (SNP).

The Fund now manages a rather illiquid portfolio, which includes stakes in unlisted state-owned companies such as Hidroelectrica, Salrom, and Bucharest Airports, among others.

(Photo: Maximusnd/ Dreamstime)

[email protected]

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