Dentsu completes £3.2bn takeover of Aegis Group
Dentsu's £3.2bn takeover of Aegis Group has gone through, resulting in Jerry Buhlmann, the head of Aegis, taking on the additional role of chief executive of the Dentsu Aegis Network, with responsibility for all operations outside of Japan.
Yesterday the Chinese regulatory authorities approved the deal and Dentsu said the deal was likely to go through by tomorrow (28 March) but the deal actually completed yesterday so the two marketing giants are now one company.
The Dentsu Aegis Network combines Dentsu’s operations outside of Japan and Tim Andree, senior vice president and the chief executive of Dentsu’s existing operations outside Japan, has been appointed the executive chairman of the combined entity.
The companies in the former Aegis Group (Carat, Vizeum, Posterscope, iProspect and Isobar) will continue to be run as a separate division, Aegis Media, which will be run by Buhlmann as chief executive, alongside his Dentsu Aegis Network role.
Buhlmann said: "In joining forces with Dentsu, Japan’s leading advertising group, we have created the world’s first truly global communications network with the ability to deliver integrated and specialist services that add real value to our clients’ businesses, in a transforming market.
"We are looking to working with our new colleagues at Dentsu."Follow @MaisieMcCabe
This article was first published on campaignlive.co.uk