REG - WPP PLC - Ogilvy deal in China <Origin Href="QuoteRef">WPP.L</Origin>

WPPAnnouncement

16/01/2017 09:00

RNS Number : 2347U
WPP PLC
16 January 2017
FOR IMMEDIATE RELEASE
16 January 2017
WPP PLC ("WPP")
Ogilvy & Mather Marketing Communications Limited agrees to take full ownership ofShanghai Ogilvy & Mather Advertisingand Shanghai Ogilvy & Mather Marketing Communications Consulting
WPP announces that its operating companyOgilvy & Mather Marketing Communications Limited (O&M) hasagreed toacquire full ownershipoftwo existing Chinese joint ventures from Shanghai Advertising Limited. The acquisition will see O&M take up the remaining 25% and 15% stakes in Shanghai Ogilvy & Mather Advertising Ltdand Shanghai Ogilvy & Mather Marketing Communications Consulting Co. Ltd respectively.
Shanghai Ogilvy & Mather Advertisingwas founded in 1991 and employs around 520 people in China. The agency specialises in advertising strategy, design and production with key clients including YUM! Brands, Unilever, Philips, Nestl and Coca-Cola. Shanghai Ogilvy & Mather Advertising's gross revenues for the year ending 2015 wereRMB 633.2 million with gross assets of RMB 466.3 million as of the same period.
Shanghai Ogilvy & Mather Marketing Communications Consulting Co. Ltdwas founded in 1997 andis a leading agency in communications and public affairs consulting. The agency employs450 peopleandrevenues for the year ending 2015 wereRMB 575.8 million with gross assets of RMB 416.9 million as of the same period. Clientsinclude Nestl, IHG, UPS and Lenovo.
The acquisition demonstratesWPP's strategy and commitment to investing in important markets and sectors. Collectively, WPP companies (including associates) in Greater China generate revenues of US$1.6 billion and employ 14,000 people.
Contact:
Feona McEwan, WPP +44(0) 20 7408 2204
Juliana Yeh, WPP        +852 22803790
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