Romanian investment fund Fondul Proprietatea, managed by American firm Franklin Templeton, intends to sell a 10 percent share package in the state-owned gas transmission company Transgaz.

The shares, estimated at some EUR 47.7 million, would be sold via a private placement for international investors only.

Romanian investors who want to buy shares within this sale have to place orders of at least EUR 100,000 per investor. The entire package Fondul Proprietatea will sell represents around 67 percent of its entire stake in Transgaz. However, the fund can also decide to increase or decrease the package, or cancel the sale altogether. The date of the private sale is yet to be announced.

Transgaz, listed on the Bucharest Stock Exchange, has a market capitalization of some EUR 475 million, based on its current share price.

editor@romania-insider.com