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RBS sells 3.0% stake in Romania's Fondul Proprietatea

RBS sells 3.0% stake in Romania's Fondul Proprietatea

BUCHAREST (Romania), July 15 (SeeNews) - The Royal Bank of Scotland (RBS) sold some 415.2 million shares, equal to a stake of 3.0%, of Romanian property restitution fund Fondul Proprietatea [BSE:FP], the fund said on Monday.

Last week, 415.0 million Fondul Proprietatea shares traded in a single block deal on the Bucharest bourse for 264.56 million lei ($76.5 million/59.6 million euro), bourse data showed.

Following the trade, the RBS held 437 million shares of the fund, equal to a 3.2% stake, as of July 9, Fondul Proprietatea said in a statement filed with the Bucharest Stock Exchange.

Blue-chip Fondul Proprietatea was set up in 2005 to compensate pre-Communist era owners whose property could not be restored in its original form.

The fund closed 0.08% down at 0.6400 lei on the Bucharest bourse on Monday.

(1 euro = 4.4284 Romanian lei)