Top Story

e4m_logo.png

Home >> International >> Article

WPP allowed to increase stake in HTA to 74 per cent

26-December-2001
Font Size   16
Share
WPP allowed to increase stake in HTA to 74 per cent

It’s fast forward time for India’s largest advertising agency Hindustan Thompson Associates. With government allowing WPP to up its stake in HTA from 60 per cent to 74 per cent, the shareholders (read employees) can expect a windfall early next year. WPP will be buying shares worth Rs 57.60 crores.

Earlier this year as reported by exchange4media, in a private circular given to the shareholders, EmStock Holdings Limited, which currently holds 40 per cent share of HTA had asked for their approval to go ahead with the deal.

According to the offer WPP was to acquire 14 per cent shares in HTA after the amalgamation of EmStock with HTA. The amalgamation was on the basis of a 1:1 swap ratio between HTA and EmStock shares. The appointed date for the purpose of amalgamation was 1st July 2001.

After the amalgamation of EmStock shares with HTA, each employee would become eligible to sell approximately 35 per cent of their share holding in HTA to WPP.

With the approval from the government received, global advertising major WPP will be buying shares worth Rs 57.60 crores to up its stake from 60 per cent to 74 per cent. It is expected that WPP will be buying almost 68,000 shares @ Rs 8090 for Rs 10 equity share from the employees of HTA.

We at exchange4media will keep you updated on this. Watch out this space for more.

Tags

Karthik Raman, Chief Marketing Officer, IDBI Federal Life Insurance, on the brand’s unconventional approach to marketing and priorities for the next year

Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Conceptualised and executed by WATConsult, the campaign focuses on how Lotus Make-up is an enabler for women from various walks of life

iProspect released the third annual 2018 Future Focus Whitepaper geared to examine how machines and technology will impact marketing and advertising in the year ahead

Mavcomm Consulting one of India’s leading Public Relations, Reputation Management& Brand Communications company today announced elevation of Pranjal Dutta to the role of CEO