LONDON--Advertising firm WPP PLC (WPP.LN), said Wednesday that
its marketing communications network, Ogilvy & Mather, has
agreed to acquire a majority stake in Memac Ogilvy, a marketing
services company covering markets throughout the Middle East and
North Africa region.
MAIN FACTS:
-Founded in Bahrain in 1984, Memac Ogilvy has been associated
with Ogilvy & Mather since 1986. Ogilvy & Mather has been a
minority shareholder since 1998.
-This investment continues WPP's strategy of developing its
services in fast-growing markets and sectors.
-WPP PLC shares at 0933 GMT traded down 12 pence, or 1%, at
GBP12.16, valuing the company at GBP16.34 billion.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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