Summary:

Aegis Group is continuing its expansion into China, with the acquisition of a 17.7 percent stake in media buyer and ad agency Charm Communic…

Aegis Media

Aegis Group is continuing its expansion into China, with the acquisition of a 17.7 percent stake in media buyer and ad agency Charm Communications. Terms weren’t disclosed, but Aegis says that Charm’s total gross assets are $143 million. As part of this acquisition, Aegis’s Vizeum unit is forming a joint venture with Charm. The JV will operate as Vizeum China. The shareholder structure of the JV will initially be 40 percent for Aegis and 60 percent for Charm. But over time, Aegis will take full ownership, though that isn’t expected until 2024. The two companies will move to that point through incremental put and call options. With advertising still in the doldrums in the west, Aegis has been making a number of small acquisitions in the Asian region, along with Publicis Groupe and WPP Group, as ad spending continues to grow at healthy rates. Release

Comments have been disabled for this post