Templeton sells Globus stake

In Hungary

The Templeton Strategic Emerging Markets Fund announced yesterday it sold its entire 8.93% stake in Hungarian canning company Globus Rt for an undisclosed price on May 24.

The sale was likely part of a deal Templeton earlier made with French agri-food group Centrale Cooperative Agricole Bretonne (CECAB), which closed a public purchase offer for Globus on May 15. CECAB\'s Hungarian unit UMF agreed to acquire Templeton\'s shares for a price of Ft 460 per share within 90 days after the public purchase offer was completed. The price was the same as that offered in the buyout offer. Templeton owned 11.61% of the shares before the public purchase offer ended.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Festivals