WPP's Kantar Stake Sale To Bain Values Unit At $4B

Law360 (July 12, 2019, 2:36 PM EDT) -- British advertising and public relations company WPP said Friday it plans to sell a majority of its Kantar data and analytics business to Boston-based private investment firm Bain Capital in a cash deal that values the unit at about $4 billion.

WPP PLC said it will sell 60% of Kantar in the deal in an effort to simplify its structure and shore up its balance sheet. WPP expects to pocket about $3.1 billion in net cash proceeds once the deal closes, after tax, costs and continuing investment in the unit, according to the statement. The advertising and public relations company also plans...

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