Weber Shandwick steps up to full ownership of India ops

Weber Shandwick has reached a pact with MAA Group Holdings to increase its equity share of Corporate Voice | Weber Shandwick to 100%

e4m by exchange4media Staff
Updated: Feb 26, 2013 6:58 PM
Weber Shandwick steps up to full ownership of India ops

Weber Shandwick, part of the Interpublic Group, has reached an agreement with majority equity holder MAA Group Holdings to increase the firm’s previous 40 per cent equity share of Corporate Voice | Weber Shandwick (CVWS) to 100 per cent. CVWS has offices in New Delhi, Mumbai, Bangalore and Kolkata.

MAA Group Holdings Chairman Bunty Peerbhoy will continue in his role as Chairman of CVWS. Atul Ahluwahlia and Dilip Yadav also will continue in their roles as President and Executive Vice President, respectively. Ahluwahlia will report directly to Tim Sutton, Chairman, Weber Shandwick Asia Pacific.

Commenting on the development, Andy Polansky, Chief Executive Officer, Weber Shandwick said, “For the past 16 years, Weber Shandwick and CVWS have built a close relationship that has benefitted clients across industry sectors. We have always considered Bunty Peerbhoy to be a valuable partner and supporter of building important capabilities, and we are very pleased that he will continue to serve as our Chairman in India. We see great growth potential for the business in the years ahead.”

Bunty Peerbhoy commented, “We have always believed in a deep long-term relationship with Weber Shandwick. Both parties have always been hugely committed to each other and it is that trust and friendship which makes this feel like such a right and natural step. I am delighted to be able to continue supporting both the business and our wonderful staff who make our business so special.”

Weber Shandwick’s network spans 73 owned offices in 31 countries and affiliates and partners that expand the network to 126 offices in 81 countries.

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