Spa declined to reveal the interested suitors, but admitted that one was based in the UK and another was Japan-based. The agency has offered up to a 51-per-cent stake, but insisted that control will remain local and the Spa prefix will be retained post-merger at the front of the new agency name.
Kitti Chambundabongse (pictured), Spa’s chairman and CEO, said: "We are at a turning point. Although we have the ability as a local agency to build our brand to a successful level and sustain it, my intention for the long-term future is to build something more secure for the shareholders and staff."
