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Dare has confirmed it has sold a 65.4 per cent share of the agency to Cossette Communications for an upfront payment of pounds 10 million, as revealed in Campaign (15 June).
Claude Lessard, the Cossette chairman, told Campaign that he now plans to pull the group's four UK companies - Miles Calcraft Briginshaw Duffy, Dare, Elvis and Band & Brown - closer together and elect a UK president to oversee the group within the next two years.
The Dare deal could see the Canadian marketing services group pay in excess of pounds 30 million for the digital agency over five years.
In 2010, Cossette has the option to increase its ownership to 82.7 per cent for a sum to be determined ...