U.S. Franklin Templeton Buys 6.0% of Romania's Impact Developer & Contractor for 7.1 Mln Lei (1.7 Mln Euro)

The fund acquired 12 million shares of the Romanian real estate developer for 0.59 lei per share from individual investor Dan Ioan Pop who owns 22.07% of the company after the deal, bourse data showed.

Pop was the largest single shareholder in Impact Developer & Contractor, holding a 28.07% stake in the company at the end of August. Individual investor Daniela Carmen Sandulescu owned 11.56% of the company and smaller shareholders held the balance.

Impact's shares closed 0.79% higher at 0.64 lei on the Bucharest Stock Exchange on Monday.

Impact Developer & Contractor, set up in 1991, is a leading Romanian private real estate developer.

(1 euro = 4.2137 Romanian lei)