NEWS25 October 2019
UK – WPP shareholders have voted to approve the proposed sale of 60% of Kantar to private equity firm Bain Capital.
The sale, announced in July after a months-long process, is expected to result in proceeds of around $3.1bn (£2.5bn) for WPP after tax and transaction costs.
The first part of the sale – relating to 86% of Kantar – is expected to take place in early 2020.
As part of the vote at a general meeting held yesterday, shareholders also approved the establishment of a joint venture with Bain in respect of the Kantar business.
The completion of the transaction is subject to an outstanding antitrust approval and the reorganisation of the Kantar business.
Earlier in the year, Kantar chief executive Eric Salama (pictured) discussed the impact of the deal and the company’s plans to ramp up acquisitions.
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