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NEWS16 July 2012

WPP buys 87% stake in Press Index

Europe Financials M&A UK

UK/FRANCE — WPP has announced that it now owns 87.76% of media intelligence and monitoring firm Press Index, which will become part of the Kantar operating network. WPP will continue to pursue its bid for complete ownership in the coming weeks.

WPP confirmed it entered into binding agreements to acquire the 87% of the share capital a fortnight ago. The deal, first announced last month, is priced at €6.81 per share, valuing Press Index at €11.2m.

As a next step, Kantar will launch a simplified cash public tender offer to purchase the remaining outstanding shares of Press Index. If at the end of the public tender offer the non-tendered shares represent less than 5% of the share capital of Press Index, Kantar intends to implement a squeeze-out procedure.

In a statement, WPP said: “This investment continues WPP’s strategy of investing in important markets and sectors and its commitment to developing its strategic networks throughout Europe.”

@RESEARCH LIVE

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