CapMan, which manages third party private equity funds in the Nordic countries and Russia, has announced that its CapMan Russia Fund has acquired a 49 percent stake in the master franchise of Papa John's in Russia.
 
Papa John's currently operates nine restaurants in Moscow. The aim of the investment is to expand the chain's operations in Moscow and other large Russian cities over the next few years, the company said.
 
CapMan was established in 1989. Its B shares are listed on the Helsinki Stock Exchange.

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