WPP in talks to sell majority stake in FGS Global to KKR
As per reports, WPP will be divesting its 50.5 per cent stake in the communications company
WPP is in the last leg to close the deal to sell its majority stake in FGS Global to KKR, media networks have reported.
WPP is said to be divesting a 50.5 per cent stake in the communications company. KKR's stake will thus rise from 30 to 80 per cent.
WPP's move is said to have come from its new Chairman Philip Jansen and is a bid to boost the advertising agency's financial position.
WPP has also spoken about focusing more on tech-driven services to improve its customer offerings with AI and data analytics.
Last week, e4m reported about WPP unveiling the next phase in its partnership with NVIDIA for creating generative AI models. WPP is thus the first company to test and utilise the new NVIDIA NIM microservices for OpenUSD. The company is also collaborating with Shutterstock to accelerate the building of 3D worlds.
