WPP: Cohn & Wolfe Buys Majority Stake in Brazil's Grupo Máquina
January 18 2016 - 7:11AM
Dow Jones News
LONDON--Advertising giant WPP PLC (WPP.LN) said Monday its
wholly-owned operating company Cohn & Wolfe, has bought a
majority stake in Grupo Máquina, a Brazilian public relations and
public affairs groups, for an undisclosed sum.
This investment continues WPP's strategy of investing in fast
growing markets and sectors and its commitment to developing its
strategic networks throughout the Brazilian market, it said.
Collectively group companies generate revenues of around $600
million and employ over 6,000 people in Brazil, WPP's seventh
largest market. In Latin America, WPP companies collectively
generate revenues of over $1.6 billion and employ over 21,000
people.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 18, 2016 06:56 ET (11:56 GMT)
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