Magic Circle firms assist with advertising takeover
13th July 2012
Five legal firms have been asked to give advice on one of the most high-profile advertising takeovers of recent times, with two Magic Circle practices amongst those receiving instruction.
With representatives from both groups holding some of the most senior London lawyer jobs in the corporate sector, the framework is now in place for Dentsu to become Western Europe’s second most powerful agency, as well as the largest in all of Asia.
The Japanese company’s acquisition of the UK-based Aegis Group is reportedly worth around £3.2bn, and involves them gaining a 15 per cent initial share in their rivals before boosting this stake further by 5 and then 10 per cent through transactions with various sources, including the French businessman Vincent Bollore.
This latest takeover is one of many to have taken place in the advertising industry recently, with the French Publicis Groupe securing two major international deals this month alone.