Fondul Proprietatea owns 15% in Romgaz, while the Economy Ministry holds the reminder stake.
In November 2010, the ministry decided Romgaz was to donate 400 million lei (EUR88.7 million) to the state budget, a decision later challenged in court by Fondul Proprietatea’s manager, the UK-based Franklin Templeton Investment Management Ltd.
Founded in 2005, Fondul Proprietatea holds stock in 69 companies, including Romania’s top energy producer Hidrolectrica (currently under reorganization) and power companies Nuclearelectrica and Oltenia Energy Holding.
Thursday, Fondul Proprietatea closed up 0.1% at RON0.532 a share in Bucharest. (EUR1=RON4.5073)