11th Sep 2006 07:01
WPP Group PLC11 September 2006 FOR IMMEDIATE RELEASE 11 September 2006 WPP GROUP PLC ("WPP") Ogilvy & Mather acquires 60% stake in Black Arc in China WPP announces that its wholly-owned operating company Ogilvy & Mather Worldwide,the leading advertising and marketing communications network, has acquired,subject to regulatory approval, 60% of the share capital of Black ArcAdvertising Co., Ltd. ("Black Arc"), a leading agency specialising in realestate advertising and promotion in the People's Republic of China. Founded in 1996 and based in Shenzhen, with offices in Beijing, Hangzhou,Chengdu and Chongqing, Black Arc employs 196 people. Black Arc had unauditedrevenues of CNY 27.9m (US$3.5 million) for the year ended 31 December 2005, withgross assets as at the same date of CNY 14.8m (US$1.85m). Clients include ChinaVanke Co., China OCT, Zhong Hai, Sunco China and China Merchants. This acquisition continues WPP's strategy of developing its networks in fastgrowing markets and sectors, and its regional strategy in Mainland China.Greater China is one of the fastest-growing markets for WPP, providing thecompany with the highest amount of revenues from this region amongst itscompetitors. Consequently, the Group, which employs 6,700 professionals inGreater China, has a strong leadership position in the region - as it does inAsia overall - across all advertising and marketing disciplines. Contact:Feona McEwan, WPPT. +44-20 7408 2204 www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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