Romania's Fondul Proprietatea sells its entire stake in Transgaz (updated)
12/12/2013 07:30
(Adds detail, background) BUCHAREST, Dec 12 (Reuters) - Franklin Templeton, the manager of Romanian restitution fund Fondul Proprietatea FP.BX , said it sold its 15 percent stake in state-owned gas grid operator Transgaz ROTGN.PX on the Bucharest Stock Exchange. The fund sold 1,764,620 share in Trangaz for 172 lei per share, raising a total of 303.5 million lei ($94 million)according to Reuters calculations. The $4.7 billion fund, set up to compensate Romanians whose assets were seized under communism, holds minority stakes in a slew of state-owned firms. "The sale represents a disposal of the fund's entire stake in the company and was multiple-times oversubscribed," Fondul Proprietatea said in a statement on Thursday. Earlier this month, the fund said it aimed to sell about 10 percent of the gas grid operator. ID:nL6N0JP400 ($1 = 3.2280 Romanian lei) (Reporting by Ioana Patran; Editing by David Holmes) ((ioana.patran@thomsonreuters.com)(+40 21 305 52 65)(Reuters Messaging: ioana.patran.thomsonreuters.com@reuters.net)) Keywords: FONDULPROPRIETATEA TRANSGAZ/