December 12, 2013 / 7:31 AM / 6 years ago

UPDATE 1-Romania's Fondul Proprietatea sells its entire stake in Transgaz

(Adds detail, background)

BUCHAREST, Dec 12 (Reuters) - 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 Exchange.

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)

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