WPP acquires remaining 26% stake in MediaCom Communications in India

The stake was purchased from Sam Balsara & Lara Balsara Vajifdar

e4m by exchange4media Staff
Published: Oct 7, 2022 11:06 AM  | 1 min read
WPP

WPP has purchased the remaining 26 per cent stake in MediaCom Communications Private Limited in India from Sam Balsara and Lara Balsara Vajifdar.

Following WPP’s decision to merge Essence and MediaCom globally, Sam Balsara and Lara Balsara Vajifdar entered into a discussion with WPP agreeing to exit MediaCom in the interest of MediaCom clients to enable the merger.

The initial agreement between WPP and Sam Balsara and his family dated back to 2008, under which the Balsara family owned 51%. In 2017, Balsara family sold 25% to WPP.

This unique deal between WPP and the promoters of Madison contributed to the rapid growth that MediaCom experienced in India, making it today one of India’s most respected agencies.

On the announcement, Sam Balsara said: “This innovative partnership we invested in nearly 15 years ago has been a great success for all parties. It has established MediaCom in India as a fast-growing and highly respected agency by advertisers.”

Nick Lawson, Global CEO, MediaCom, said: “It has been a pleasure working with Sam Balsara and Lara Balsara as we grew this successful business in India. We will build on that legacy to deliver the agency model our clients want for the future - founded on brilliant strategy and brand-building capabilities, with pioneering digital expertise running throughout.”

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