Around the Net
Chime Communications Sells To WPP And Providence Equity Partners
- Campaign, Friday, July 31, 2015 8:30 AM
WPP and Providence Equity Partners have agreed to buy Chime Communications for GBP374 million. Chime, the communications group that owns VCCP, accepted a cash offer for its entire issued share capital at 365 pence per share, as well as an interim dividend for the current year of 2.53 pence per share. Sir Martin Sorrell’s WPP had already held an 18% share in Chime while Providence, a US private equity firm, identified Chime as an attractive acquisition due to its sports marketing and advertising credentials.
