NEWS29 March 2019
UK – Bankers are preparing debt financing of around £2.5bn to back a potential sale of Kantar from WPP, according to a report.
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.
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