Franklin Templeton Fund Buys Stake In Brazilian Parking Co.

Law360, New York (December 22, 2011, 9:05 PM EST) -- An emerging markets private equity fund run by a Franklin Resources Corp. subsidiary has acquired a minority stake in Brazil-based Estapar, the largest parking company in Latin America, Franklin announced Thursday.

The financial services giant, more commonly known as Franklin Templeton Investments, said the Templeton Strategic Emerging Markets Fund III acquired Estapar in partnership with Brazilian investment bank BTG Pactual. The transaction closed Thursday.

Financial details of the deal were not disclosed. An Estapar spokesman was not immediately available for comment Thursday, and a Franklin Templeton...
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