The months-long auction has seen several private equity firms participating, including Apollo Global Management, Platinum Equity and Vista Equit
According to news reports, WPP has confirmed that it is in talks to sell its majority stake in its data analytics unit, Kantar to private equity firm Bain Capital in a deal valued around $4 billion. This comes after it was reported that WPP was looking to cap an auction for the business by the end of the week. WPP also highlighted that the proposal was still under negotiation and would therefore not necessarily end in a deal.
The months-long auction has seen several private equity firms participating, including Apollo Global Management, Platinum Equity, and Vista Equity.
According to reports, Kantar CEO, Eric Salama described the frontrunner for the business as “people who share an ambition for growth – they want to grow Kantar and scale it and they want to make it a much more tech-driven business in every aspect".
This offloading of the majority stake in Kantar was confirmed in October last year and would be the latest move by WPP CEO, Mark Read to streamline the business after former CEO Martin Sorrell exited the company last April. The news of the talks with Bain Capital comes just after WPP has confirmed plans to sell its 25% stake in Chime Communications to majority shareholder, Providence Equity Partners, in a deal worth £54.4 million.
Read the original article here: https://www.exchange4media.com/announcements-news/wpp-in-talks-to-sell-majority-stake-in-kantar-to-bain-capital-reports-97800.html