16th Mar 2016 11:46
LONDON (Alliance News) - Advertising agency M&C Saatchi PLC on Wednesday said it has agreed to acquire a 51% stake in digital customer experience agency Principal MCD Inc for USD10 million.
The members of MCD will be able to elect that M&C Saatchi purchase 50% of the remaining equity from 2016 and the remaining balance from 2018 for considerations based on future profits.
MCD made adjusted earnings before interest, tax, depreciation and amortisation of USD2.5 million on revenue of USD14.9 million in 2015.
Shares in M&C Saatchi were trading down 0.9% at 311.18 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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