Fondul Proprietatea is one of the largest closed end funds in the world. The largest investor in the fund is actvist investor Paul Singer.
Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, in its capacity as Investment Manager of Fondul Proprietatea SA (“the Fund”), announced yesterday that it has sold the entire participations of the Fund in E.ON Distributie Romania S.A. and E.ON Energie Romania S.A.
The stakes in total represented 5.3% of Fondul´s NAV. The shares of the Eon companies were not listed.
Details of the transaction were not disclosed.
For more details on the Fondul opportunity see: