Filip & Company has advised Fondul Proprietatea on the sale of its minority shareholding in Engie Romania in a transaction exceeding EUR 86 million. Bondoc si Asociatii reportedly advised Engie.
The transaction remains contingent on the approval of Fondul Proprietatea's shareholders.
"This transaction is another remarkable success of Fondul Proprietatea in the realization and liquidation of its portfolio," Filip & Company Partner and Head of M&A Alexandru Birsan commented. "This also gives Engie the opportunity to strengthen its Romanian holding, so it is a genuine win-win for all parties involved."
Fondul Proprietatea is a joint-stock investment management company established by the Romanian state and intended to become entirely private and independent.
The Engie Group specializes in low-carbon energy and related services. The company employs over 170,000 people around the world.
Most recently, Filip & Company advised Fondul Proprietatea on the sale of its entire shareholding in Hidroelectrica during the company's IPO (as reported by CEE Legal Matters on July 11, 2023) and on the sale of its entire shareholding in OMV Petrom back in 2022 (as reported by CEE Legal Matters on December 22, 2022).
The Filip & Company team included Birsan, Partner Cristina Filip, Senior Associate Andreea Banica, and Associates Lavinia Cazacu and Raluca Rusu.
Editor's Note: After this article was published, Bondoc si Asociatii confirmed it had advised Engie Group Participations on the purchase of Fondul Proprietatea’s minority shareholding in Engie Romania. The firm's team included Managing Partner Lucian Bondoc, Partner Bogdan Bunrau, and Associates Matei Vilcov and Ionut Lechea.
