WPP to buy control of Ogilvy South Africa.

By bne IntelliNews January 28, 2011
WPP, the world's largest advertising group by revenue, said it has agreed to acquire a majority stake in Ogilvy South Africa Ltd., subject to obtaining regulatory approvals. Ogilvy South Africa and its group companies form part of the Ogilvy Worldwide network. The terms of the deal were not disclosed. Established in 1984, Ogilvy South Africa has offices in Johannesburg, Cape Town and Durban and employs more than 700 people. Its key clients and partners include BP, Cell C, KFC, MultiChoice and SAB Miller. Ogilvy South Africa's audited consolidated revenues for 2009 were ZAR 411.7mn, WPP said in a statement. On January 26, WPP said it will acquire a further 50% stake in media buying and planning agency Mindshare South Africa from Ogilvy South Africa, taking its share in the company up to 70%. Founded in 2001, Mindshare has offices in Johannesburg and Cape Town and employs 96 people. Its key clients and partners include Kellogg, KFC, LG, MTN, MultiChoice, Sun International and Unilever.

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