1st Apr 2008 09:02
WPP Group PLC01 April 2008 FOR IMMEDIATE RELEASE 1 April 2008 WPP GROUP PLC ("WPP") G2 acquires majority stake in RAMS in India WPP announces that its wholly-owned operating company G2 Worldwide, a GreyGroup company and a leading global marketing services network, specializing indigital communications, direct marketing, shopper marketing and design hasagreed to acquire, subject to regulatory approval, a majority stake in ChateuxHospitality Pvt. Ltd, one of India's leading providers of customized solutionsin activation marketing and relationship management. The company operates inIndia under the RAMS brand name. Founded in 1998, Chateux Hospitality employs 148 people and is based in Gurgoan,with offices in Mumbai and Bangalore. Clients include American Express, GE,GlaxoSmithKline, AIG, Nestle, Eli Lilly, HP India, and Hero Honda. RAMS's unaudited revenues for the year ended 31 March 2007 were INR123.3m, withgross assets at the same date of INR211.2m. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Contact:Feona McEwan, WPP T. 44 (0)20 7408 2204 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP