The deal was brokered by Swiss Capital, according to a notice issued by Fondul Proprietatea Monday.
Elliott raised its stake in FP through Manchester Securities, through which it owns the biggest share of FP stock.
FP shareholders are set to decide on October 29 whether or not to extend the mandate of Franklin Templeton as manager and sole director. The fund manager is proposed for a new mandate of two years starting with April 1, 2016.
On Wednesday, Elliott Associates raised its stake in FP to 19.87%, representing 21.06% of its voting rights. Elliott’s stocks in FP are held through Manchester Securities and Beresford Energy. Manchester Securities owns 691.258 million shares and 28.496 million GDRs (1.42 billion shares), while Beresford owns 9 shares and 2.176 million GDRs (108.8 million shares).