The World: Boston - McKinney managers reacquire equity from Havas

McKinney, the North Carolina-based agency, is to become independent again after a deal allowing its management to reacquire 100 per cent of its equity from Havas. The agency was bought by Havas from the web consultancy MarchFirst seven years ago for between $30 million and $35 million.

Brad Brinegar, the agency's chairman, said the buyback would allow it to grow unfettered by possible client conflicts within other Havas operating companies.

Fernando Rodes Vila, the Havas chief executive, said the group was increasingly focused on its core brands, Euro RSCG, Havas Media and Arnold. "This sale is beneficial for both parties," he added.