Romanian investment fund Fondul Proprietatea has sold its entire stake in Romania gas transport company Transgaz, for some EUR 67. 3 million, the fund has announced.

The deal covered the whole 15 percent package in Transgaz that the fund used to own. Citigroup Global Markets Limited, Raiffeisen Capital & Investment and Wood & Company Financial Services were global coordinators and joint book runners in the sale.

At a share price of RON 172 – or EUR 38.2 per share, the fund sold at a discount on the price the Transgaz shares were trading on the Bucharest Stock Exchange yesterday.

In the meantime, the opening share price went up by 3.34 percent in the Thursday, December 12 session, to some RON 183 per share – or EUR 40.6. Before Fondul Proprietatea announced plans to sell Transgaz shares, the stock price was of RON 190.7 per share – or some EUR 42.2, but the price dipped soon after the announcement.

editor@romania-insider.com