Bbharat Thakrar, CEO Scangroup. A transaction to increase the stake of global communications company, WPP, in Scangroup, a media services firm is now complete. PHOTO/FILE
Analysts say the deal now puts Scangroup on a growth trajectory following disappointing half-year results.
On Wednesday, WPP appointed Jon Egger as the new chief financial officer (CFO) for Scangroup, making it the first high ranking appointment after getting a major stake in the media services company.
A transaction to increase the stake of global communications company, WPP, in Scangroup, a media services firm is now complete.
The Sh1.8 billion deal, which was executed through Cavendish Square Holding has raised WPP’s shareholding in Scangroup to 50.1 per cent from 33.616 per cent. Cavendish Square Holding is a wholly owned unit of WPP.
