Romania's Government does not intend to sell its stake of over 5% at Fondul Proprietatea achieved upon the disbursement of RON 190 mln (EUR 38 mln) capital earlier this year, but on the contrary, it aims to become more involved in the management of the Fund, representatives of the Ministry of Finance told Profit.ro.

Fondul Proprietatea has just reported preliminary RON 1 bln (EUR 200 mln) net profit for 2021.

"The Ministry of Finance intends to maintain its participation in FP, exercising the quality of shareholder conferred by the number of shares held. The strategy of the Ministry of Finance towards FP is for it to consolidate its position on the capital market, to maximize its returns to shareholders, to increase the value of its assets," the ministry stated.

Among others, the ministry ponders over nominating a candidate for the Fund's Board of Nominees. But it would need the support of other shareholders to appoint one of the five memes of the Board.

Following the resignation of Mark Henry Gitenstein last December, the shareholders of the Fund will be invited to elect a new member at the meeting in April. The Board currently consists of Omer Tetik, Nick Paris, Ilinca von Derenthall and Ciprian Ladunca.

andrei@romania-insider.com

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