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.
The gross income of employees who worked full-time under a labour contract and were paid for the entire month of October 2024 was RON 8,374, more than a quarter above the basic gross salary of RON 6,553, according to data from the National Institute of Statistics (INS) published on Friday.Around 40% of these employees earned […]
Over 31,600 building permits for residential properties were issued in the first ten months of this year, up 4.1% compared with the same period last year, according to data from the National Institute of Statistics (INS) published on Friday.Increases were recorded in all development regions: West (+297 permits), Centre (+235), North-West (+192), North-East (+134), South-East […]
VAT revenues increased in the third quarter of this year by 6.74 billion lei compared to the same period last year, totaling 35.48 billion RON, out of a total of 94.75 billion RON for the first nine months of 2025, according to data transmitted on Monday by the Ministry of Finance.Of the amount of 6.74 […]
Banca Comerciala Romana (BCR) listed on Friday a new bond issue on the Regulated Market of the Bucharest Stock Exchange (BVB), worth 1.12 billion RON, the BVB said in a release.This is the 11th bond issue listed by BCR on the Stock Exchange to date, bringing the total value of BCR's listed bonds close to […]
Romania's insurance sector is strengthening its performance against the backdrop of a dynamic market undergoing significant structural transformation, according to a new study on developments in the insurance markets of Central and Eastern Europe, conducted by a consultancy firm in partnership with a research provider."Romania stands out as one of the most dynamic insurance […]
The minimum turnover tax is a barrier to investment, and in a period when the private sector is undergoing restructuring and layoffs, it adds additional pressure on companies, according to a letter signed by 14 investor organizations that once again request the elimination of the minimum tax."In view of the discussions on the construction […]
