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

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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