Staff
Jan 16, 2017

Ogilvy buys remainder of two existing Chinese JVs

O&M is acquiring shares in two Chinese joint ventures it did not already own.

Ogilvy buys remainder of two existing Chinese JVs

The acquisition will see Ogilvy & Mather Marketing Communications Limited (O&M) take up the remaining 25% and 15% stakes in Shanghai Ogilvy & Mather Advertising Ltd (上海奥美广告有限公司) and Shanghai Ogilvy & Mather Marketing Communications Consulting Co Ltd (上海奥美商务咨询有限公司) respectively.

The former, Shanghai Ogilvy & Mather Advertising Ltd, was founded in 1991 and employs around 520 people in China. WPP's 25% interest in it was taken in 2002.

The agency specialises in advertising strategy, design and production with key clients including Yum Brands, Unilever, Philips, Nestlé and Coca-Cola. Its gross revenues for the year ending 2015 were USD 91.8 million (RMB 633.2 million).

The latter, Shanghai Ogilvy & Mather Marketing Communications Consulting Co. Ltd, was founded in 1997 and specialises in investor relations and public affairs consulting. The agency employs 450 people generating gross revenues in 2015 of USD 83.5 million (RMB 575.8 million). Clients include Nestlé, IHG, UPS and Lenovo. Nestlé is also a client of Shanghai Ogilvy & Mather Advertising Ltd.

The acquisition, according to a press release, demonstrates parent company WPP’s "strategy of investing in important markets and sectors".

 

Source:
Campaign China

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