Engie Romania management, accused of damages of millions of RON

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Fondul Proprietatea (FP) accuses Engie Romania management by causing damages to the company through concluding contracts with the parent group worth RON 23 million in 2013-2014.

According to Greg Konieczny, Executive Vice President, Templeton Emerging Markets Group and Fund Manager of Fondul Proprietatea (FP), it’s about contracts for acquisition and investment, financial advisory, as well as consulting contracts on setting medium-term strategy and annual budgets concluded between GDF Suez Energy Romania (current ‘Engie Romania’) and GDF Suez (current ‘Engie’).

Thus, Fondul Proprietatea, as a minority shareholder of ex-GDF Suez Energy Romania), asks suing managers and directors of the company, for the damages mentioned above.

FP request has been put on the General Meeting agenda of Engie Romania shareholders which will be held on April 27.

Engie Romania (former GDF Suez Energy Romania) has over 1.3 million customers and is a natural gas leading supplier.

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