Summary
- WPP Scangroup says it has reached an agreement allowing it to acquire a majority stake in Research and Marketing Group Investment Limited, which trades as Kantar TNS.
- The deal gives WPP Scangroup a 70 per cent stake in Kantar TNS currently held by Russell Square Holdings BV and a further 10 per cent of the 30 per cent stake held by International Research and Marketing Group Holdings.
- Kantar TNS operates in Nigeria and Kenya — the primary markets for WPP Scangroup.
Kenya’s listed Pan-African advertising and public relations firm
WPP Scangroup has acquired a majority stake in rival Kantar TNS in a
deal whose pricing was not immediately available.
WPP
Scangroup said in a disclosure statement to the Capital Markets
Authority (CMA) that it had reached an agreement allowing it to acquire a
majority stake in Research and Marketing Group Investment Limited,
which trades as Kantar TNS.
The deal gives WPP
Scangroup a 70 per cent stake in Kantar TNS currently held by Russell
Square Holdings BV and a further 10 per cent of the 30 per cent stake
held by International Research and Marketing Group Holdings.
WPP
Scangroup’s chief executive, Bharat Thakrar, described the proposed
acquisition as a tremendous opportunity for business growth and
investment in markets such as Nigeria and Kenya.
“The focus on research and data-driven operations perfectly fits
our goal of providing horizontal, integrated communications services
and products across sub-Saharan region. This deal increases WPP
Scangroup’s presence and capability, enabling it to build a leading
position in market research business,” Mr Thakrar said.
The
deal signals WPP Scangroup’s appetite for new acquisitions across
Africa, coming after the media services giant bought Exp Agency’s entire
stake for an undisclosed amount in 2013, Cavendish Square Holding B.V
in 2013 and Experiential Marketing (Proprietary) Limited (EMPL)in July
2014.
WPP Scangroup, which currently provides market
research services through Kantar Millward Brown, said the proposed
acquisition will enable it align the two market research businesses in
order to boost operational efficiency and enhance service delivery to
its clients.
Kantar TNS and Kantar Millward Brown are
part of the Kantar Group, WPP Plc’s data management division and one of
the world’s largest insight, information and consultancy groups.
Kantar
TNS operates in Nigeria and Kenya — the primary markets for WPP
Scangroup. It also has offices in Senegal, Cameroun, Cote d’Ivoire and
Ghana.
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