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Our Bureau

Mumbai , Nov. 14

Franklin Templeton Investments will buy out Hathway Investments' stake in Franklin Templeton Asset Management (India) Pvt. Ltd (AMC) subject to regulatory approvals.

Franklin Templeton, which owns 75 per cent stake in the AMC, will acquire the remaining 25 per cent stake from Hathway Investments, a member of the Rajan Raheja Group of companies.

The company did not divulge the financial details of the deal.

"The full acquisition of our Indian asset management arm reinforces Franklin Templeton's long-term commitment to India," said Mr Vijay Advani, Executive Vice-President, Franklin Resources Inc.

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