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NEWS5 April 2016

STW Group formally agrees WPP AUNZ merger

Asia Pacific M&A Media News

APAC — Australasian marketing content and communications group, STW Communications Group, is officially to merge with the Australian and New Zealand businesses of WPP. 

This follows STW shareholder approval at a general meeting held yesterday.

The merger was originally announced in December of last year, and at yesterday's meeting STW shareholders voted in favour of all resolutions associated with the transaction, which will see WPP become the majority shareholder of STW and STW become the primary vehicle for WPP in Australia and New Zealand

The combined entity will be known as WPP AUNZ.

"We are delighted that the merger with the WPP Australian and New Zealand businesses has received such a positive endorsement today from the STW shareholders," said WPP AUNZ chairman Robert Mactier.

"It indeed heralds a new and exciting era which will be very exciting for STW shareholders, WPP, our collective clients and all of the very talented people across the merged group."  

@RESEARCH LIVE

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