WPP sells Kantar stake in £3.2bn deal

WPP are proposing to sell their majority stake in Kantar for more than £3bn with £1bn returned to shareholders.

Private equity firm Bain Capital are to acquire a 60% stake in Kantar in an expected £2.5bn worth proceeds going to WPP however, the overall value of Kantar will be £3.2bn.

WPP chief executive Mark Read said, “This transaction creates value for WPP shareholders and further simplifies our company.

“With a much stronger balance sheet and a return of approximately 8% of our current market value to shareholders planned, we are making good progress with our transformation.”