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Romanian property fund Fondul Proprietatea has received a binding offer from GDF International for the sale of its 11.99% stake in electricity distributor Engie Romania for 87 million euro, FP said in a report filed with the Bucharest Stock Exchange.
GDF International, subsidiary of French utility Engie, is the majority shareholder of Engie Romania. FP said its stake in Engie Romania represents 14.53% of its net asset value as of end-October.
The offer is subject to approval by FP’s shareholders and the completion of other customary conditions, the fund added.
Fondul Proprietatea’s market capitalisation amounts to 2.8 billion lei (563.2 million euro).
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