NEWS29 March 2019

Bankers reportedly line up financing for Kantar sale

Financials Media News UK

UK – Bankers are preparing debt financing of around £2.5bn to back a potential sale of Kantar from WPP, according to a report.

Mark Read

The sale, led by Goldman Sachs, is attracting interest from a number of private equity firms with first bids due in an auction in April, according to ‘banking sources’ quoted by Reuters.

WPP announced last year it was seeking a ‘financial or strategic partner’ for Kantar as the group looks to reduce its debt.

Last week, WPP chief executive Mark Read (pictured) said the company would ideally retain between 25%-40% of its stake in Kantar.

Kantar has just simplified its multiple businesses – including Kantar Media, Kantar Health and Kantar TNS – bringing them all under the single Kantar brand name

WPP declined to comment.