Another positive news from Fondul Proprietatea, the Romanian energy fund that is under pressure from activist investor Paul Singer. The Elliot Associates managed by Singer is the largest investor in Fondul with 15.22% stake. The local FSA has approved the changes to the Fund’s share capital after the cancellation of the 1.1bn shares bought in the second buyback programme.Continue reading “Fondul Proprietatea: 4th Buyback on The Way”
PAUL SINGER text book activism
Paul Singer gained fame by pushing Argentina into a default. His activist transactions are worth looking at too. His Romanian venture is a text book case of activist investing that generates return for all shareholders. Elliot Associates is the largest investor in a Romanian USD 4.4 bln. energy fund Fondul Proprietatea. The fund was createdContinue reading “PAUL SINGER text book activism”
FONDUL PROPRIETATEA BUYBACK ACCELARATION?
Swiss capital just reported: * Local media mentions FP RO may sell its entire 19% stake in OMV Petrom (SNP RO) in the next few days according to uncited sources, local news website economica.net wrote today. * FP’s stake in SNP RO is currently valued at EUR 1.1bln (USD 1.4bln), that would be largest dealContinue reading “FONDUL PROPRIETATEA BUYBACK ACCELARATION?”
Hidden Gem in Paul Singer Portfolio
Summary: Investment sites that follow Paul Singer´s portfolio include only US listed securities. One of his largest positions therefore remains unnoticed. Elliot Associates owns 15.2% stake in Romanian restitution fund Fondul Proprietatea. Market value of the position is 550 mil USD. Fondul is the third largest (after HES and put on IWX) position in ElliotContinue reading “Hidden Gem in Paul Singer Portfolio”