Companies involved in the plan include local branches of German E.ON, Italian Enel, French GDF Suez and Romanian Electrica, according to a Proprietatea memo posted on the Bucharest Stock Exchange.
The stakes considered for sale were evaluated at a total EUR527.6 million, or 15% of the net asset value.
Thus, the fund could sell 22% in E.ON Moldova Distributie (evaluated at EUR50.8 million), 12% in E.ON Gaz Distributie (EUR26.6 million) and 13% in E.ON Energie Romania (EUR21.7 million).
At the same time, the fund plans to sell 12% in Enel Distributie Muntenia (EUR77.7 million), 12% in Enel Energie Muntenia (EUR8.6 million), 24% in Enel Distributie Banat (EUR72.9 million), 24% in Enel Distributie Dobrogea (EUR50.4 million), 12% in Enel Energie (EUR4.5 million) and 12% in GDF Suez Energy Romania (EUR78 million).
Other stakes considered for sale include 22% in Electrica Distributie Muntenia Nord (EUR54.8 million), 22% in Electrica Distributie Transilvania Nord (EUR39.3 million), 22% in Electrica Distributie and Transilvania Sud (EUR42.3 million).
Proprietatea shares closed up 0.7% Tuesday, to RON0.599. (EUR1=RON4.3537)