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WPP In Talks To Buy Piece of Japanese Digital Shop

WPP is negotiating with Asatsu-DK Inc., Japan's third largest ad shop to buy its minority stake in a digital ad shop Digital Advertising Consortium for an estimated $43 million, the companies have confirmed. While the holding company cautioned that due diligence was still proceeding, WPP indicated it expects to "execute a legally binding definitive agreement" by the end of the week. Last week ADK confirmed selling off a smaller portion of its holdings in the digital shop for around $17 million. If WPP completes the transaction it would have an ownership interest in the firm of a little under 19%. The single largest stakeholder in DAC is Hakuhodo DY Media Partners with just over 45% of the firm.
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