WPP Group PLC
23 January 2002
FOR IMMEDIATE RELEASE 23 January 2002
WPP GROUP PLC ('WPP')
Ogilvy PR Forms Equity Partnership with PRAP, in Japan
WPP announces that its wholly-owned operating company, Ogilvy Public Relations
Worldwide, has agreed to acquire 28.4% of the equity of PRAP Japan Inc ('PRAP'),
one of the largest international public relations firms in Japan.
Based in Tokyo and with offices in Beijing and Shanghai, PRAP's clients include
Axa Life Insurance, British Airways, GE Medical, Haagen-Dazs, Hitachi, Intel,
Levi-Strauss, Mars, Mikimoto, Nike, SAP and Sony. PRAP employs over 200 people
and had revenues of Yen 2,517,933,000 in 2001 and net assets of Yen 456,525,000
as at 31 August 2001.
The investment reinforces Ogilvy's ability to give '360 degree' branding
solutions to clients by linking with one of the leading public relations
companies in Japan. The initiative continues WPP's strategy of strengthening its
networks in important markets and sectors.
Contact:
Feona McEwan, WPP London 44-20 7408 2204
www.wpp.com
www.ogilvypr.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.