REG - WPP PLC - Scangroup agrees to acquire majority stake in EXP <Origin Href="QuoteRef">WPP.L</Origin>

WPPAnnouncement

06/09/2014 14:45

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RNS Number : 0773M
WPP PLC
11 July 2014 
 
 FOR IMMEDIATE RELEASE  11 JULY 2014  
 
 
WPP PLC ("WPP") 
 
Scangroup agrees to acquire majority stake in pan-African experiential
marketing group EXP 
 
WPP's subsidiary company, Scangroup Limited, has agreed to acquire a majority
stake in EXP, a pan-African experiential marketing group based in South
Africa, subject to regulatory approvals. With a presence in 12 countries
across sub-Saharan Africa, EXP employs over 1700 people. 
 
Scangroup, Africa's leading marketing services group with revenues of over
US$60 million in 2013, offers clients across sub-Saharan Africa a
comprehensive and integrated range of advertising and marketing services in
advertising, media investment management, marketing consultancy, public
relations, digital and experiential marketing. 
 
EXP's audited revenues for the year ended 31 December 2013 were over ZAR200
million, with audited gross assets of approximately ZAR244 million as at the
same date. 
 
This investment continues WPP's strategy of developing its networks in
important markets and sectors and its commitment to developing its business
throughout the fast growing economies of Africa. Across the continent of
Africa, the Group (including associates) collectively generates revenues of
US$700 million and employs over 27,000 people. 
 
Contact: 
 
 Feona McEwan, WPP  + 44(0) 207 408 2204  
 Chris Wade, WPP    + 44(0) 207 408 2204  
 
 
This information is provided by RNS
The company news service from the London Stock Exchange