WPP buys 49% stake in Jupiter group

January 29, 2009

Global media and communications giant WPP has acquired a 49% stake in The Jupiter Drawing Room (South Africa) & Partners, reportedly Africa's largest independent advertising agency group. The announcement was made late yesterday afternoon, Thursday, 29 January 2009, to coincide with WPP CEO Sir Martin Sorrell's announcement of the deal to the global media in Davos, Switzerland, earlier that day.

The "dream deal", as described by Jupiter group chairman Graham Warsop, is subject to Competition Commission approval. The 49% acquisition translates into a 49% stake in The Jupiter Drawing Room (Johannesburg), The Jupiter Drawing Room (Cape Town) and, through these, acquisitions equity in Black River FC and MetropolitanRepublic.

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