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.
Romania inaugurated its first large voluntary waste collection center in Cluj-Napoca, marking the start of a national network of 13 such facilities financed through the Recovery and Resilience Plan (PNRR). The new center is designed to help residents dispose of bulky and special waste that cannot be collected through regular household waste collection services. The […]
Syclef, which specializes in commercial refrigeration, industrial refrigeration, and HVAC (heating, ventilation, air conditioning), has taken over Horeco Holding, a Romanian group specializing in industrial refrigeration. The transaction remains subject to obtaining the necessary regulatory approvals from the Romanian Competition Council and the Commission for the Examination of Foreign Direct Investments (CEISD). Founded in 1995 […]
President Nicușor Dan promulgated the law establishing 2026 as the Year of the United States of America in Romania on Monday, July 20. The bill was initiated by several lawmakers from the far-right, Eurosceptic but pro-Trump Alliance for the Union of Romanians party, or AUR. According to the law set to be implemented, 2026 is […]
Romanian aerospace company BraveX Aero and state-owned Romaero are developing an industrial capacity to produce up to 17 unmanned aircraft per month as they seek to meet growing demand from the defense sector. BraveX Aero also announced a EUR 4 million funding round to support the expansion of its production capabilities. Under the plan, BraveX […]
Oil, AI, and Gold: The Three-Way Tug of War in the Markets, by eToro analyst for Romania, Bogdan Maioreanu The escalation between the US and Iran in the Gulf conflict has renewed concerns over global oil supply, raising its prices, pushing inflation risks back into focus and raising the likelihood...
Today’s edition of The digital replica of the printed Nine O’Clock newspaper – No.8394 dated 21 July 2026 Between Discipline and Calling: A Conversation with TAROM Boeing 737 First Officer George Ancuța Romania and Serbia take an important step toward closer energy cooperation President Dan: Modernising the Air Force represents...
