WPP Group PLC
11 September 2006
FOR IMMEDIATE RELEASE 11 September 2006
WPP GROUP PLC ("WPP")
Ogilvy & Mather acquires 60% stake in Black Arc in China
WPP announces that its wholly-owned operating company Ogilvy & Mather Worldwide,
the leading advertising and marketing communications network, has acquired,
subject to regulatory approval, 60% of the share capital of Black Arc
Advertising Co., Ltd. ("Black Arc"), a leading agency specialising in real
estate advertising and promotion in the People's Republic of China.
Founded in 1996 and based in Shenzhen, with offices in Beijing, Hangzhou,
Chengdu and Chongqing, Black Arc employs 196 people. Black Arc had unaudited
revenues of CNY 27.9m (US$3.5 million) for the year ended 31 December 2005, with
gross assets as at the same date of CNY 14.8m (US$1.85m). Clients include China
Vanke Co., China OCT, Zhong Hai, Sunco China and China Merchants.
This acquisition continues WPP's strategy of developing its networks in fast
growing markets and sectors, and its regional strategy in Mainland China.
Greater China is one of the fastest-growing markets for WPP, providing the
company with the highest amount of revenues from this region amongst its
competitors. Consequently, the Group, which employs 6,700 professionals in
Greater China, has a strong leadership position in the region - as it does in
Asia overall - across all advertising and marketing disciplines.
Contact:
Feona McEwan, WPP
T. +44-20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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