Fondul Proprietatea (FP) announced on Monday evening at the Bucharest Stock Exchange that Franklin Templeton International Services, in the capacity of administrator of the Fund, received a firm offer from GDF International, the majority shareholder of Engie Romania, to purchase the holding of Engie for the amount of 87 million euros.
"Firm offer from GDF International S.A., the majority shareholder of Engie Romania S.A. (the "Offer"), in connection with a potential sale of the entire ownership of Fondului Proprietatea in the share capital of Engie Romania S.A. ("The Company"), for the amount of 87 million euros. Any potential transaction is conditioned by the agreement on the terms of the share sale-purchase agreement and any suspensive conditions, which will include the approval of the transaction by the Fund's shareholders. Other announcements will be made as and when it is relevant", FP transmits in the BVB report.
Fondul Proprietatea currently owns 11.99% of Engie Romania's share capital, representing 14.53% of the NPV of the Fund as of October 31, 2023. Based on the valuation report as of May 31, 2023 (by applying the market method based on the multiple of EBITDA derived from the analysis of comparable companies listed on the capital market), FP assessed the holding in Engie Romania in the financial report for the first nine months of 2023 at 490 million lei (about 99 million euros).
"Firm offer from GDF International S.A., the majority shareholder of Engie Romania S.A. (the "Offer"), in connection with a potential sale of the entire ownership of Fondului Proprietatea in the share capital of Engie Romania S.A. ("The Company"), for the amount of 87 million euros. Any potential transaction is conditioned by the agreement on the terms of the share sale-purchase agreement and any suspensive conditions, which will include the approval of the transaction by the Fund's shareholders. Other announcements will be made as and when it is relevant", FP transmits in the BVB report.
Fondul Proprietatea currently owns 11.99% of Engie Romania's share capital, representing 14.53% of the NPV of the Fund as of October 31, 2023. Based on the valuation report as of May 31, 2023 (by applying the market method based on the multiple of EBITDA derived from the analysis of comparable companies listed on the capital market), FP assessed the holding in Engie Romania in the financial report for the first nine months of 2023 at 490 million lei (about 99 million euros).
