LONDON--Advertising firm WPP PLC (WPP.LN) said Monday its subsidiary Grey Group, has acquired a majority stake in the holding company of Famous, a creative agency in Belgium, for an undisclosed sum.

Following the acquisition, Famous will rebrand as FamousGrey, WPP said.

Famous's revenue for the year ended Dec. 31, 2015 were 8.1 million euros ($9.0 million) with gross assets of EUR7.5 million as at the same date, WPP said.

WPP shares at 0835 GMT up 0.13 pence, or 0.8%, at GBP16.69, valuing the company at GBP21.45 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

July 11, 2016 04:52 ET (08:52 GMT)

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