Franklin Resources, Inc. (NYSE:BEN) entered into an agreement to acquire Edinburgh Partners Limited from Sandy Nairn and other members of the management, Noble Grossart Limited and others on January 17, 2018. Under the transaction, Noble Grossart Limited will sell 20% stake, Sandy Nairn will sell approximately 40% stake and other members of the management team, will sell 35% stake. Edinburgh Partners Limited reported operating profits of £13.97 million and revenues of £28.44 million for the year ending February 28, 2017. Sandy Nairn will become chairman of Templeton Global Equity Group and remain investment partner and Chief Executive Officer of Edinburgh Partners. Sandy Nairn will report to Stephen Dover, Franklin Templeton’s head of Equities. The transaction is subject to regulatory approvals and expected to be completed in the first half of 2018. Colin Leaver of Simmons & Simmons acted as legal advisor for Franklin Resources, Inc.