Interpublic Group to buy Brands Hatch

– The Interpublic Group of Companies is to buy Brands Hatch Leisure, the company that owns the Kent motor racing circuit, for £120 million.

– The Interpublic Group of Companies is to buy Brands Hatch Leisure, the company that owns the Kent motor racing circuit, for £120 million.

Under the terms of the deal, Interpublic will offer 22.67 new shares for every 100 Brands Hatch shares, and Brands Hatch will become part of Interpublic's recently-formed Octagon sports marketing and entertainment network.

The deal values Brands Hatch shares at 546 pence compared with its Monday closing price of 493-1/2p.

The deal will see Nicola Foulston, chief executive of Brands Hatch join the Octagon board.

Octagon manages a number of motorsport events, including the Superbike World Championship.



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