SAA M&c Saatchi Plc

TIDMSAA

RNS Number : 7596O

M&C Saatchi PLC

01 February 2019

M&C SAATCHI PLC

1(st) February 2019

Sale of 24.9% stake in Walker Media to Publicis Groupe

M&C Saatchi, the global marketing services business, is pleased to announce that it has sold its remaining stake in Walker Media (trading as Blue 449), a leading UK media agency, to Publicis Groupe.

The total consideration for the 24.9% stake is GBP25m, which equates to a valuation for the whole of Walker Media of approximately GBP100m. The consideration was payable in cash on completion of the transaction, on 31 January 2019. In the financial year ended 31 December 2017 Walker Media contributed associate income of GBP1.6m with the investment in associates valued at GBP10.7m on the balance sheet.

The cash proceeds will be used to fund future growth, consistent with M&C Saatchi's strategy of winning new business by starting new businesses.

David Kershaw, CEO, M&C Saatchi, said:

"M&C Saatchi has started many businesses. Walker Media was one of the first and has been one of the greatest. Christine, Phil and Simon have done a magnificent job, latterly with Publicis Media and we owe them all a huge debt of gratitude. M&C Saatchi has evolved considerably over the past 20 years and we believe now is the right time to realise the value of our minority stake, to support our entrepreneurial strategy of starting new businesses and building the stars of tomorrow."

Contacts:

   M&C Saatchi                                     +44 (0)20-7543-4500 

David Kershaw

   Tulchan Communications               +44 (0)20-7353-4200 

Tom Murray

   Clarity                                               +44 (0)20-3402-4904 

Lead Financial Adviser

Marcus Anselm

   Numis Securities                             +44 (0)20-7260-1000 

Nick Westlake, Hugo Rubinstein, NOMAD

Charles Farquhar, Corporate Broking

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