Wednesday, November 15, 2023
HomeAdvertisingWPP sells stake in PR big FGS to KKR

WPP sells stake in PR big FGS to KKR


After per week or so of hypothesis WPP has confirmed it has offered a stake in big PR agency FGS International (the one-time Finsbury Metropolis PR agency based by Roland Rudd) to US-based international investor KKR.

WPP says it’ll stay the bulk shareholder. KKR is shopping for the stake held by Golden Gate Capital plus some from different share3holders.

FGS, a mixture of Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co, has round 1300 workers world wide and a blue-chip consumer record. The transaction values FGS International at $1.425bn.

WPP CEO Mark Learn says: “FGS International has established itself as a worldwide chief in strategic advisory and communications, offering board-level counsel to the world’s main corporations and organisations. We’re delighted to welcome KKR as a brand new strategic companion in FGS International, in a transaction that recognises the great worth of the enterprise and its potential for continued sturdy progress.”

KKR companion Philipp Freise says: “WPP and FGS International have constructed an distinctive communications advisory agency. Stakeholder engagement is a boardroom situation and we’re as we speak establishing a strong strategic partnership between WPP and KKR to assist FGS International as they proceed on their path to constructing an industry-defining international enterprise.”

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