WPP to sell stake in Kantar
WPP of London has announced plans to sell a 60% stake in its Kantar subsidiary to investment company Bain Capital Private Equity for US$3.1 billion. WPP plans to use 60% of the proceeds to reduce debt, returning the remainder to its shareholders. The deal remains subject to shareholder and regulatory approvals. Kantar specializes in market research and data analytics.
“Our new ownership structure presents a great opportunity for Kantar, our employees and our clients,” said Eric Salama, CEO of Kantar. “In Bain Capital we have a partner who shares our ambition, brings relevant expertise and, with WPP, can help us accelerate our growth and impact for clients. We are focused on delivering human understanding at scale and speed more consistently. We will do so by investing more in talent and by becoming a more technology-driven solutions provider.”