Multinational advertising company, WPP AUNZ (ASX:WPP) has provided an update in relation to the potential sale of its data investment management company, Kantar.
WPP AUNZ’s majority shareholder, WPP plc confirmed overnight that WPP has entered into exclusive discussions with Bain Capital for the sale of a majority shareholding in Kantar, with a headline enterprise value (for 100 per cent of Kantar) of Canadian $4 billion.
Bain Capital’s proposal is subject to negotiation. WPP says there is no certainty that these discussions will result in a transaction involving Kantar.
The company says the data investment management segment for 31 December 2018 contributed net sales of $105 million and earnings before interest and tax of $20 million for the company. The Kantar business accounts for the significant majority of this segment.
Shares in WPP AUNZ (ASX:WPP) are trading 5.26 per cent higher at $0.50.