Dentsu's Aegis takeover to go through by Thursday

The £3.2bn takeover of Carat and Isobar-owner Aegis by Dentsu is expected to go through by Thursday 28 March, after Chinese regulatory authorities confirmed it had passed the deal.

Tadashi Ishii and Jerry Buhlmann: Dentsu and Aegis chiefs
Tadashi Ishii and Jerry Buhlmann: Dentsu and Aegis chiefs

In a statement published today, the Japanese holding company Dentsu and Aegis said clearance from the Ministry of Commerce of the People’s Republic of China had now been received and the relevant conditions have been satisfied.

Last week, Aegis said that subject to court approval at a second court hearing in London today, and the timing of the delivery of the court orders to Companies House, the deal would go through on or before 28 March.

It had been expected that the deal would go through before Christmas 2012, but the Chinese regulatory process has taken longer than was originally envisaged.

The board of Aegis accepted the deal unanimously in July 2012 and Aegis shareholders passed it in August.

Topics

Subscribe to Campaign from just £57 per quarter

Includes weekly and quarterly print issues, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

MOST READ

BBH deputy ECD Caroline Pay exits
Share

1 BBH deputy ECD Caroline Pay exits

Bartle Bogle Hegarty has parted company with its deputy executive creative director Caroline Pay and has promoted Ian Heartfield, creative managing partner, and Anthony Austin, chief executive of Black Sheep Studios, to take over as joint deputy ECDs.

Just published