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| Mark Read |
WPP Group has sold a 60 percent stake in its Kantar research unit to Bain Capital for $4B as part of CEO Mark Read's plan to simplify the structure of the ad/PR giant.
The deal, which is expected to close in early 2020, will result in a $3.2B after-tax gain for WPP.
Read has earmarked 60 percent of that windfall for debt reduction and about a third for distribution to shareholders.
WPP will retain a 40 percent Kantar stake and looks forward to working with Bain to "unlock its full potential," according to Read.
Luca Bassi, managing director at Bain, called Kantar a "market leader in many areas" and a "remarkable platform for growth." He said Bain sees many expansion opportunities and stands ready to invest in Kantar to "expand the company’s capabilities and reinforce its global leading position.”
Eric Salama, Kantar CEO, said Bain "is a partner who shares our ambition, brings relevant expertise and – with WPP – can help us accelerate our growth and impact for clients."
S&P Global has reaffirmed its negative “BBB” rating on WPP due to ongoing challenges that it will face during the next 12 months.
Stagwell’s Q4 revenues grew two percent to $807M while adjusted EBITDA rose three percent to $129M.
WPP CEO Cindy Rose unveiled “Elevate 28,” a strategic plan to simplify the troubled company, which reported a 5.4 percent drop in 2025 revenues to $13.6B.
Omnicom CEO John Wren reported a Q4 $977.2M operating loss, largely due to the $1.1B in severance and repositioning expenses connected to the $13B Interpublic takeover that closed on Nov. 26.
Publicis Groupe reports an 8.8 percent rise in 2025 net revenues to $16.4B with
