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NEW DELHI, Nov 1 Asia Pulse - French media communications firm Publicis Groupe will acquire 51 per cent stake in India's public relations consultancy company Hanmer and Partners (H&P) for an undisclosed sum.
Following the acquisition, H&P will be aligned with Manning Selvage and Lee (MS&L), a global public relations firm, and the Indian agency will be renamed Hanmer MS&L.
"We have been working very closely as an affiliate with MS&L for the last seven years, and the arrangement will help us serve better the global clients of Publicis in India," Hanmer and Partners Managing Director Sunil Gautam told PTI.
Sunil, who will continue to run the company as the MD even after the deal, said Publicis, in the first phase, will pick 51 per cent stake in the company, while there was also a 'put option' for the remaining equity.
"There will be three representatives ...
Source: HighBeam Research, FRANCE'S PUBLICIS TO ACQUIRE 51% STAKE IN INDIAN PR FIRM HANMER.