“Following the Transaction, the Fund received gross proceeds of RON650,000,000. The proceeds will be used in accordance with the discount management techniques set out in Fondul Proprietatea’s Investment Policy. The Transaction was concluded following the closing of an agreement between Enel S.p.A. and the Greek company Public Power Corporation S.A. for the sale of all the equity stakes held by the Enel Group in Romania,” the Fund said in its report.
It will most likely invest the money into a new share buy-back program.
(English version by Loredana Fratila-Cristescu)