DENTSU INCREASES STAKE IN ITALIAN AFFILIATE
By Adnews Staff
Tokyo-based Dentsu plans to increase its investment in Italian affiliate Dentsu Italia and acquire the firm as a subsidiary. Until January of this year the Rome-based agency was known as CCP Roma. Dentsu Inc. will aquire a 60% equity stake in the firm by purchasing the holdings of the agency's president, Alessandro Olivieri, and the 10% stake owned by the Dentsu Group. These transactions are expected to be completed by the end of this month. Dentsu Italia has 16 employees and had gross profits of 1.27 million euros in the fiscal year 2002. Dentsu also has another subsidiary in Italy called Cayenne.
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