Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting in its capacity as the Investment Manager of Romanian Fondul Proprietatea, has announced that Fondul Proprietatea has sold its full shareholding in E.ON Distributie Romania S.A. and E.ON Energie Romania S.A. Bondoc & Asociatii advised the seller.
Prior to the sale, Fondul Proprietatea owned 56,749,014 shares in E.ON Distributie Romania S.A. (representing 18.35% of its share capital) and 9,903,524 shares in E.ON Energie Romania S.A. (representing 13.4% of its share capital).
Fondul Proprietatea stated that it, "has undertaken confidentiality obligations customary to such transactions so full details of the deal cannot be disclosed, but ensures its shareholders that the transaction is in line with the objectives set out in the Investment Policy Statement."
Bondoc & Asociatii did not identify its lawyers working on the deal, identify the buyer, or identify external counsel to the buyer.
