Mark Read

07 Aug

WPP Sells $775 Million Stake in PR Firm FGS Global to KKR

stp2y0 CommentsRAG modelsadvertising, artificial intelligence, business, china, deals, Debt, environment, Government, KKR & CO INC, london, Mark Read, Technology, WPP PLC

WPP Plc agreed to sell its stake in communications consultancy FGS Global to KKR & Co Inc. for $775 million as the British advertising agency streamlines its business to make room for investments in newer technologies. The sale of the approximately 50% stake gives FGS Global an enterprise value of $1.7 billion, the company said in a statement on Wednesday. KKR will increase its stake in the company to about 80% from 30%. Source link lol