Salans Advises Franklin Templeton

Salans has advised Franklin Templeton Investments Management Limited, the UK-based investment management company that is part of the global Franklin Templeton Investments Group, throughout the selection process for the management of Fondul Proprietatea.

Salans acted as Romanian counsel to Franklin Templeton during the tendering process and subsequent negotiation and signing of the management agreement, and also advised on other regulatory, corporate and labour law aspects in connection with the establishment of Franklin Templeton’s Bucharest branch. Salans' team was coordinated by Christopher Berlew, Managing Partner, and Simona Petrisor, Senior Associate, with the support of Septimiu Stoica, Of Counsel at Salans Bucharest and former President of the Bucharest Stock Exchange.

"We were delighted that the management agreement has been finally signed. This step sends a positive signal not just to the shareholders of Fondul Proprietatea but to the Romanian investment market generally, and we were delighted to have played a part in the successful conclusion of this process" said Salans' Christopher Berlew.

Salans Bucharest, established in Romania over 12 years ago, is part of the Salans law firm’s global network of 22 offices worldwide. The firm counts 40 lawyers in Bucharest and over 750 worldwide. The firm has built a strong reputation in corporate and M&A, litigation and arbitration, labour, energy and natural resources, real estate, banking and finance, insolvency and financial services.

Franklin Templeton Investment Management Limited is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $548 billion in assets under management as of 31 January 2010.