NEWS5 April 2017

Havas in Chinese joint venture

Asia Pacific Europe M&A News

FRANCE – The Havas Group has signed a joint venture with Chinese advertising and marketing communications business, Guangdong Advertising Group.

Chinese shopping street Shanghai_crop

With expertise in all communications disciplines, it is the fastest growing integrated group in the Chinese communications industry.

The Havas Group will own 51% of the resulting business – Havas GIMC Advertising Co., Ltd. Its headquarters will be based in Shanghai.

Founded in 1979 and based in Guangzhou, GIMC has more than 110 member companies and 4500 employees in the main 11 Chinese cities (Tier 1 and Tier 2 ).

Yannick Bolloré, CEO of the Havas Group said: "The Chinese market is one of the fastest growing markets in the world and is now 2nd in terms of ad spending which offers outstanding opportunities for brands. We are very excited to join forces with GIMC; combining our strengths with their capabilities and talent pool, which is the largest in China, will guarantee Havas GIMC Advertising’s clients the best service both in the Chinese market and globally."