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Citigroup selected as excusive intermediary to ease possible transactions for Fondul Proprietatea

March 2012

1 Photos

Franklin Templeton Investment Management Limited UK Bucharest Branch announces today that, following a selection process initiated in November 2011, Citigroup Global Markets Limited has been appointed as its exclusive intermediary to facilitate one or more possible transactions involving Fondul Proprietatea’s interests in the sale, transfer or disposition of several unlisted Romanian power and gas distribution and supply companies. (See photo) The total value of these holdings is EUR 527.6 million, or approximately 15% of NAV, according to the latest NAV of Fondul Proprietatea as at 31 January 2012.

“The mandate given to Citigroup is in line with one of our key objectives to reduce the share of the unlisted part of Fondul Proprietatea’s portfolio. Through this action we hope to create additional value for our shareholders. We believe Citigroup’s network of industry contacts and experience in advising on such deals will help us ensure that, if deals are there to be done, it will be on the best terms for the Fund,” said Greg Konieczny (photo), Fund Manager of Fondul Proprietatea. Launched in December 2005, Fondul Proprietatea was established to compensate Romanians whose properties were confiscated by the former communist government.



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