6th Sep 2007 13:24
WPP Group PLC06 September 2007 FOR IMMEDIATE RELEASE 6 September 2007 WPP GROUP PLC ("WPP") WPP acquires stake in PBN WPP announces that it has acquired a 49.9% stake in PBN Holdings, LLC, ("The PBNCompany") a leading international integrated strategic communicationsconsultancy, specializing in Russia, Ukraine and CIS countries. The PBN Companywill maintain its independent positioning. Founded in 1983, The PBN Company has offices in Washington DC, London, Moscow,Kyiv and Riga and employs 115 people. The PBN Company serves majormultinational companies such as BP, Bristol-Myers-Squibb, Enel, Merrill Lynch,Mittal Steel, Motorola, Telenor, Xerox and Western NIS Fund; and some of theregion's top businesses, including Basic Element, Ferrexpo, Renaissance Group,Rolf Group of Companies, Sberbank, UkrEximbank and UMC. The PBN Company's revenues for the year ended 31 December 2006 wereUS$10.6million, with gross assets at the same date of US$3.5million. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Contact:Feona McEwan, WPP T. 44-20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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