The firm's announcement stated that ôsubject to regulatory approvals and execution of a formal agreementö, it will buy the 25% stake held by Hathaway Investments. Hathaway is part of the Rajan Raheja group of companies and has been the Indian partner in Franklin Templeton Asset Management India since it started operating in the country.
Vijay Advani, executive vice president of Franklin Resources says ôThe full acquisition of our Indian asset management arm reinforces Franklin TempletonÆs long-term commitment to India, a journey that started back in 1995.ö
The first fund launched by Franklin Templeton in India in September 1996...
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