Share package of 1.3% in Romania's Fondul Proprietatea changes hands for EUR 21 million
The recent deal values the fund at some EUR 1.6 billion. Fondul Proprietatea is listed on the main market of the Bucharest Stock Exchange, with a secondary listing at the Warsaw Stock Exchange planned for late 2012.
Fondul Proprietatea was created in 2005 as a joint stock company with a special purpose to provide compensation to people whose real estate assets had been confiscated by the Romanian state during the communist regime and who can no longer receive restitution in kind. The Romanian investment fund posted a profit of around EUR 128 million in 2011, and is listed on the Bucharest Stock Exchange, symbol FP.
The fund’s portfolio is focused on the electrical energy sector, oil and natural gas – around 88 percent of its net assets. The biggest unlisted company in its portfolio of shares is Hidroelectrica, while the biggest listed company where Fondul Proprietatea owns shares is OMV Petrom.
editor@romania-insider.com
(photo source: Agerpres)