WPP to sell its minority shareholding in Chime

The share will be sold to the majority shareholder Providence for £54.4m and potential additional amounts based on the future value of Chime

by exchange4media Staff
Published - Jul 1, 2019 1:04 PM Updated: Jul 1, 2019 1:04 PM
WPP

WPP has announced the sale of its minority shareholding in Chime Group Holdings Limited, the sports, entertainment and communications group, to the majority shareholder Providence for £54.4m and potential additional amounts based on the future value of Chime.

The disposal is in line with WPP’s new strategy as set out in December 2018, a key element of which is to focus on its main areas of business and simplify its operations through the disposal of non-core assets.

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