Interpublic did not disclose the buyer of the stake, but said it would record a $132 million pre-tax gain on the transaction, and that it would use the proceeds to help fund a previously repurchase of between $300 million and $450 million shares of Interpublic stock.
Interpublic said it has already acquired 16.8 million shares of Interpublic stock, for about $187.5 million in cash, including fees, and that the repurchase program has no expiration date.
Interpublic did not disclose what its remaining stake in Facebook will be, but Chairman-CEO Michael Roth stated that, "when an attractive opportunity to divest a portion of our position recently presented itself, we decided that it made sense to do so."
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And what was their percentage of Facebook? We can them calculate an aggregate value for FB.