Further to the current reports published on 11 December 2023 and 27 December 2023, Franklin Templeton International Services S.À R.L., in its capacity as alternative investment fund manager and sole director (”AIFM / Fund Manager”) of Fondul Proprietatea S.A. (the “Fund”), would like to inform shareholders about the completion of the sale of the Fund’s entire holding in Engie Romania S.A. (the “Transaction”). Following the Transaction, the Fund received gross proceeds of RON 432,616,167.75. The proceeds will be used in accordance with the discount management techniques set out in Fondul Proprietatea’s Investment Policy Statement, published here: Investment Policy Statement (fondulproprietatea.ro). When proposing any Discount Control Mechanism (“DCM”) measures, the Fund Manager will also observe the current and potential cash requirements for the foreseeable future, in line with the current size and risk profile of the Fund. We remind shareholders that the Transaction was concluded following the closing of an share purchase and sale agreement between the Fund, as seller, and GDF International SAS, as purchaser, for the sale of the entire shareholding held by the Fund in Engie Romania S.A. Furthermore, the completion of the Transaction was conditioned upon the Fund’s shareholders approval, which was granted during the 13 February 2024 Extraordinary General Shareholders Meeting. Following the Transaction, the Fund no longer holds any shares in Engie Romania S.A.
TEKUNI, a program dedicated to students and young entrepreneurs, was launched in Timișoara through a pilot project, with a future goal of nationwide expansion. The program offers a complete training path, structured into 7 modules that cover all stages of building a startup: from idea validation and MVP development to branding, marketing, legislation, finance, leadership, […]
The Romanian capital will be in the spotlight at the festival Un Week-end à l'Est, which runs in Paris until December 1. The event, which aims to present the artistic, literary, and intellectual richness of an Eastern European city, has previously focused on Warsaw, Odessa, Kyiv, Sofia, or Budapest. At its ninth edition, it is […]
Romanian tax agency ANAF has sued former president Klaus Iohannis in order to recover the loss of use of half of a property in the center of Sibiu. “The action represents a continuation of the steps that ANAF has taken for the recognition of the state’s ownership right and the recovery of compensation determined by […]
Romania will face Turkey in the semi-final of the World Cup qualifying play-offs, with the match scheduled to take place away from home on March 26 next year, Biziday.ro reported. A win would send the national team into the play-off final on March 31, where it would meet the winner of the Slovakia–Kosovo match. Romania […]
An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Mercenary Horațiu Potra, who faces charges of attempting to undermine constitutional order in Romania, is being flown back to Bucharest under police escort after authorities in the United Arab Emirates approved his extradition,
