Templeton Asset Management-led Consortium Acquires a Minority Stake (CEE and CIS)

Source: Templeton Asset Management

A consortium led by Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has acquired a minority stake in Turkey-based apparel retailer Defacto Perakende Ticaret. The investment was structured through Templeton Strategic Emerging Markets Fund IV, which is managed by Templeton Emerging Markets Group of Templeton Asset Management. Defacto intends to use the investment to grow within Turkey and expand its international operations. Financial details of the transaction were not disclosed.