LONDON, UK: Franklin Templeton International Services S.À R.L., as the alternative investment fund manager and sole director of Fondul Proprietatea S.A., has announced that the Fund has sold all its equity stakes in five Romanian companies, including E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., to the Greek company Public Power Corporation S.A. (PPC) for a total consideration of RON 650 million.
This agreement comes after Enel S.p.A. and PPC entered into an agreement for the sale of all Enel Group’s equity stakes in Romania. The sale’s completion is subject to the closing of the transaction between Enel and PPC, and further updates will be provided when necessary.
The SPA was signed on 19 April 2023, following the agreement between Enel S.p.A. and PPC for the sale of all equity stakes held by the Enel Group in Romania. Franklin Templeton International Services S.À R.L., in its capacity as the Fund Manager, expressed its satisfaction with the conclusion of the SPA, which will allow the Fund to capitalize on the opportunity to divest its shares in these companies.
The completion of the transaction under the SPA is subject to the fulfillment of certain conditions, including the closing of the agreement between Enel and PPC. Further announcements will be made when relevant.
Franklin Templeton International Services S.À R.L. operates as an alternative investment fund manager and sole director of FONDUL PROPRIETATEA S.A., which is a Romanian joint stock company incorporated under the laws of Romania. The Fund’s main objective is to maximize long-term shareholder value by investing in listed and unlisted Romanian companies, as well as other assets. The Fund has a diversified portfolio that includes stakes in various industries, such as energy, oil and gas, and real estate, among others.
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