Romanian fund sells entire Transelectrica stake

electricity
By Andrew Griffin
10 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 in the fund's move to trim its holdings.

Raiffeisen and UniCredit were joint global co-ordinators and ...

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