WPP to sell majority stake of data analytics Kantar to Bain capitals


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WPP to sell majority stake of data analytics Kantar to Bain capitals

WPP Plc., world’s largest advertising company headquartered in London, UK, had been in an advanced level talk to sell a majority stake of its data analytics wing Kantar to a US-based private equity farm, Bain Capital, WPP said at a statement on Monday, the 1st of July 2019.

Aside from that, according to WPP’s Monday’s (July 1st) statement, latest sell-off of its Kantar stake at a $4 billion deal was aimed at piloting the loss-making company back to growth. Latest news of Kantar sell-off would be putting an end to months of speculation over the data analytics firms’ fate, as in May, WPP had shortlisted a series of US buyout bids for its Kantar’s stake Apart from that, financial terms of the bid for Kantar stakes would be overseen by Goldman Sachs and part of the company.

Nonetheless, on Monday’s (July 1st) statement, WPP had been quoted saying that Kantar was valued at $4 billion including debts, while Bain Capital’s bid was subject to negotiation and the company could not ensure that the exclusive talks would lead to a deal.

Following media reports earlier on Monday (July 1st) that Bain had emerged as a leading bidder for Kantar stakes, WPP shares wrapped up the day 2.2 percent higher at 1,012 pence per share.