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NEWS17 May 2019

Kantar final bidders reportedly shortlisted

Media News UK

UK – WPP has put multiple companies through to a second round of bids for a stake in Kantar.

Private equity firms Bain Capital, Apollo and Platinum, along with a fourth undisclosed bidder, have been shortlisted for the auction’s final stages, sources told Reuters.

WPP is looking to sell a majority stake in Kantar as it looks to reduce its debt. The company wants the partial sale to be finalised around the end of the second quarter, a source told Research Live.

In its latest financial results, WPP said the sale of Kantar – which kicked off last year – was progressing in line with its expectations. Chief executive Mark Read (pictured) has previously said the company hopes to retain between 25% and 40% of its stake.

WPP declined to comment and Bain, Apollo and Platinum could not be immediately reached.

@RESEARCH LIVE

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