Fondul Proprietatea sold its holdings within the Enel group in Romania to PPC for the sum of 650 million lei, according to an announcement submitted to the Bucharest Stock Exchange.

Thus, FP announced the sale of minority holdings “in the share capital of E-Distributie Muntenia S.A., Enel Energie Muntenia, E-Distributie Dobrogea, E-Distributie Banat and ENEL Energie.”

“Franklin Templeton International Services, in its capacity as administrator of alternative investment funds and sole administrator of Fondul Proprietatea S.A. (“the Fund”), wishes to inform the shareholders that the Fund, as the seller, and the Greek company Public Power Corporation S.A. (“PPC”), as the buyer, concluded on April 19, 2023 a sales contract for the full sale of the Fund’s holdings in the share capital of E-Distributie Muntenia S.A., Enel Energie Muntenia S.A., E-Distributie Dobrogea S.A., E-Distributie Banat S.A. and ENEL Energie S.A. (“Sales Contract”), in exchange for a price of 650,000,000 RON,” the release states.

“The Sales Contract was concluded as a result of the conclusion by Enel S.p.A. and PPC of a contract for the sale of all the holdings held by the Enel Group in Romania. The effective completion of the sale is conditioned, among other things, on the completion of the transaction between Enel and PPC.”