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Article: WCRS Group PLC takes European initiative with acquisition of 50 percent interest in SGGMD, Europe's largest independent media buyer. (Societe Ggmd)
- Article from:
- PR Newswire
- Article date:
- April 26, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WCRS GROUP PLC TAKES EUROPEAN INITIATIVE
WITH ACQUISITION OF 50 PERCENT INTEREST IN SGGMD,
EUROPE'S LARGEST INDEPENDENT MEDIA BUYERGGMD,
LONDON, April 26 /PRNewswire/ -- The WCRS Group plc (NASDAQ: WCRSY), the dynamic advertising and communications group, announced today that it has conditionally agreed to acquire a 50 percent interest in SGGMD, Europe's leading independent media buying group, for an initial consideration of FF688.7 million ($121.2 million). In the year ended Dec. 31, 1987, SGGMD made pre-tax profits of FF462 million ($81.3 million) on a turnover of FF6.96 billion ($1.23 billion).
The acquisition will be ...