Dentsu's Aegis takeover to go through by Thursday

By Maisie McCabe, campaignlive.co.uk, Tuesday, 26 March 2013 09:50AM

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.

This article was first published on campaignlive.co.uk

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