Franklin Templeton bought the stake from Singapore-based investment company Viet Capital Holding. The remaining 51% of VCBF will continue to be owned by Vietcombank, the state-owned commercial bank. The value of the acquisition was not disclosed.
The acquisition is in line with Franklin TempletonÆs approach of entering new markets by building the business on the ground.
ôIn building Franklin TempletonÆs global business, a key approach we have employed has been to make strategic investments in local companies around the world in order...
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