M&C Saatchi sells remaining stake in Walker Media for £25m

Writer, Stock Market Wire
Friday, February 1, 2019 - 07:47

Advertising firm M&C Saatchi said it had sold its remaining 24.9% stake in UK media agency Walker Media, trading as Blue 449, to Publicis Groupe for £25m.

The cash proceeds would be used to fund future growth, consistent with M&C Saatchi's strategy of winning new business by starting new businesses, the company said.

'M&C Saatchi has evolved considerably over the past 20 years and we believe now is the right time to realise the value of our minority stake, to support our entrepreneurial strategy of starting new businesses and building the stars of tomorrow,' chief executive David Kershaw said.

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