Royal Bank of Scotland raises stake in Romania's Fondul Proprietatea to 5.24%

The Royal Bank of Scotland Plc, 100%-owned by The Royal Bank of Scotland Group Plc, bought 175 million Fondul Proprietatea shares on September 19, the group said in a statement filed to the Bucharest Stock Exchange.

The 175 million shares, equivalent to 1.27% of the fund's share capital, were acquired for some 94.4 million lei ($27 million/20.9 million euro), bourse data indicated.

As of September 13, U.S-based Manchester Securities Corp. was Proprietatea's largest shareholder with a stake of 15.22%, data from the Bucharest bourse showed.

(1 euro = 4.5164 Romanian lei)