Lintas India selling its 51% stake to IPG

In one of the biggest delas that the Indian advertising sector has seen so far, Lintas India is selling its 51% locally-owned stake to its international partner, the Interpublic Group (IPG). In a deal believed to be worth any where between $ 100 to $300 million. Prem Mehta, Chairman and Managing Director, said that the move "will further strenghten Lintas India's readiness to meet the challenges of the new marketing environment". He pointed out that the decision to integrate Lintas India more closely into the IPG network was based upon the needs of the increasing importance of expertise in integrated communication services and the opportunities it would afford Indian managers in the Lintas system.

Industry sources also believe the final stake buyout by IPG could perhaps have been hastened by the imminent arrival of creative hotshop Bartle Bogle Hegarty (BBH) in India. BBH has an excellent track record with Unilever, one of Lowe Lintas's largest clients and handles several of its flagship brands in many international markets.

Source:- Lintas India to offload 51% to Interpublic - The Economic Times