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BUCHAREST Dec 12 Franklin Templeton, the
manager of Romanian restitution fund Fondul Proprietatea
, said it sold its 15 percent stake in state-owned gas
grid operator Transgaz on the Bucharest Stock
The fund sold 1,764,620 share in Trangaz for 172 lei per
share, raising a total of 303.5 million lei ($94
million)according to Reuters calculations.
The $4.7 billion fund, set up to compensate Romanians whose
assets were seized under communism, holds minority stakes in a
slew of state-owned firms.
"The sale represents a disposal of the fund's entire stake
in the company and was multiple-times oversubscribed," Fondul
Proprietatea said in a statement on Thursday.
Earlier this month, the fund said it aimed to sell about 10
percent of the gas grid operator.
($1 = 3.2280 Romanian lei)
(Reporting by Ioana Patran; Editing by David Holmes)