The Frankin Templeton’s Asian partner acquires the meat plant

The assets of troubled Hungarian meat firm Pápai Hús company was reportedly purchased by Frank Liu, a Franklin Templeton president in Asia, who submitted the best offer for the assets – Világgazdaság wrote.

According to Világgazdaság Online, the offer of 1.1 billion HUFfor the companyʼs assets, announced on Tuesday, was submitted by Hungarian Tano Commerce Kft., which is reportedly owned by Liu.

Franklin Templeton is a fund that specializes in emerging markets, and it has traditionally been an important investor in Hungarian state bonds. Until recently, Franklin Templeton held more than 10 percent of Hungaryʼs state debt. (Máriás Leonárd, vg.hu)