Romanian fund sells entire Transelectrica stake

electricity pylons at sunset px230 for gc
By Andrew Griffin
09 Jul 2014

The Romanian state restitution fund completed a L213m ($66m) sale of shares in the country's state-owned power grid operator Transelectrica on Tuesday evening, with local investors joining select international funds to complete the latest in a run of Romanian deals.

Fondul Proprietatea, the Franklin Templeton-managed fund, sold 9.9m shares representing 13.5% of the company for L21.50 each. That accounts for its entire holding in the company, and makes it the latest disposal for the fund which has been looking to trim its holdings.

Raiffeisen and UniCredit were joint global ...

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