The Proprietatea Fund, a bid of 87 million euros to sell shares in Engie

GDF International has made a firm offer of 87 million euros to The Proprietatea Fund for the acquisition of its entire stake in the share capital of Engie Romania, as announced by the Fund.

“Franklin Templeton International Services SPRL, in its capacity as the alternative investment fund manager and sole administrator of Proprietatea Fund SA, wishes to inform shareholders that it has received a firm offer from GDF International SA, the majority shareholder of Engie Romania SA, regarding a potential sale of the entire stake of Proprietatea Fund in the share capital of Engie Romania SA, for the amount of 87 million euros,” states a report from the Proprietatea Fund, submitted to the Bucharest Stock Exchange.

According to the document, any potential transaction is subject to agreement on the terms of the share purchase agreement and any suspensive conditions, which will include the approval of the transaction by the shareholders of Proprietatea Fund.

“Other announcements will be made as and when they become relevant,” says Proprietatea Fund in the report. The Proprietatea Fund currently holds 11.99% of the share capital of Engie Romania (representing 14.53% of the Fund’s NAV as of October 31, 2023).