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KKR private equity firm is closing in on a deal to purchase WPP’s 50.5 percent stake in FGS Global for about $800M.
The transaction values the financial communications shop at $1.6B, according to the Financial Times.
It will bolster KKR’s stake in FGS from 30 percent to 80 percent. The PR firm’s management and partners will hold the remaining shares.
The transaction is expected to bolster WPP’s lagging stock price, and enable CEO Mark Read to focus on his plan to position as a tech-focused creative transformation enterprise.
ICR Westwicke is handling the $975M IPO of Atlanta-based Guardian Pharmacy Services.
Jennifer Kettnich, who was VP-investor relations at Walt Disney Co., has moved to the same position at Mattel.
Sitrick And Company represents BurgerFi International as the Fort Lauderdale casual “better burger” restaurant chain declares Chapter 11.
C Street Advisory Group handles Hoonigan as the marketer of auto enhancements and high-performance drivers’ gear declares Chapter 11.
Kekst CNC is providing media support for the Japanese owner of the 7-Eleven convenience store chain, which has rejected a $39B takeover offer by the Canadian owner of its rival Circle K network. (Updated on 12/6)
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