Romania: Electrica takes over the minority shares held by Fondul Proprietatea in subsidiaries and installs a new Board of Directors

The Electrica shareholders (El) approved at the Extraordinary General Meeting of Shareholders on Thursday the purchase of minority holdings owned by Fondul Proprietatea at 4 subsidiaries for 752 million lei.

The agreement between Electrica and Fondul Proprietatea (FP) regarding the sale of minority packages held at Electrica subsidiaries (EL) was announced in mid-July.

Electrica will pay 209.74 million lei for 22% of Muntenia Nord SA, 201.70 million lei for 22% of the Transilvania Nord Electricity Distribution Company, 173.5 million lei for 22% of the The Electricity Distribution Company Transilvania Sud SA and 167.08 million lei for 22% of Electrica Furnizare SA.

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