Property Fund one step away from privatisation

The Romanian state's stake in Fondul Proprietatea (Property Fund) fell to 53.8% at the end of June, and it is becoming increasingly more likely that the state will no longer be a majority shareholder in the region's most extensive investment project, with 3 billion euros in assets. Over the past year, the state's stake has diminished by 12%, from 65.8% to 53.8% at present.
Set up in 2005 in order to compensate people whose properties were seized by the communist regime, the Property Fund was originally fully owned by the Romanian state, with the beneficiaries receiving FP shares as compensation for the lost properties.