LONDON (Alliance News) - WPP PLC Wednesday said it has agreed to acquire a majority stake in Turkish communications firm Effect PR via its public relations and public affairs business Burson-Marsteller.
Effect PR is headquartered in Istanbul and employs around 80 people. It has been an exclusive affiliate partner of Burson-Marsteller in Turkey since 2012 and following the acquisition will become Effect Burson-Marsteller.
It had net sales of USD2.5 million in 2015, with gross assets as at the end of 2015 of USD3.3 million.
Shares in WPP were down 0.1% at 1,677.00 pence shortly after market open Wednesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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WPP (WPP)