Close on the heels of acquiring Lintas India and integrating it with Lowe Worldwide, Interpublic Group (IPG) is all set to acquire complete control over FCB Ulka. The deal will be completed by September 2007. Following the development, the agency would be known as Draft FCB Ulka.
Prior to this development, Foote Cone & Belding, an IPG company, had 51 per cent stake in FCB Ulka, while the remaining 49 per cent was held by Ulka Advertising.
In a previous interview Anil Kapoor, MD and CEO of FCB Ulka, had told exchange4media, “Because of the credibility of the Ulka name in India we will retain Ulka in whatever we christen the agency forward.” Kapoor was talking about the FCB merger with Draft at that time and the impending change in the Indian operations with that development.
IPG acquires Lintas India; integrates it with Lowe Worldwide
FCB Ulka gears up to go the Draft FCB way