Georgia Palade van Dusen, granddaughter of industrialist Nicolae Malaxa, sold 25.6 million Proprietatea shares in August, shrinking her stake to 6.49%, from 6.69%, according to a report published Thursday on the Bucharest bourse.
Proprietatea shares were trading early Thursday at RON0.4495, which makes Georgia Palade’s stake worth RON402.2 million (EUR94.9 million).
After the fall of the communist rgime, Nicolae Malaxa’s heirs, Georgia Palade Van Dusen, Philip Palade and Loreen Ellen Malaxa (wife of a deceased grandson) – all three living in the USA – asked Romania for $310 million in compensation for all property abusively seized by the communist regime.
The state gave the heirs compensation in 2006, which was turned into Fondul Proprietatea stock. (EUR1=RON4.2457)