WPP's Grey Acquires South Africa's Volcano Group for Undisclosed Fee
May 15 2014 - 4:53AM
Dow Jones News
LONDON-- Advertising company WPP PLC (WPP.LN) said Thursday that
its subsidiary Grey is to acquire a majority stake in The Volcano
Group, a South African advertising and communications company, for
an undisclosed fee.
MAIN FACTS:
-Volcano's unaudited consolidated revenues for the year ended
May 31, 2013 were 61 million rand, with gross assets at the same
date of ZAR26 million.
-Shares at 0817 GMT, down 12 pence, or 1%, at 1,231 pence
valuing the company at GBP16.38 billion.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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