WPP is selling its interest in digital strategy and technology consultant Globant via a new share offering announced last week.
In late April, after the departure of CEO Martin Sorrell, the firm’s new management team told analysts that it would take a look at its portfolio of companies, particularly companies in which it holds minority interests, with an eye toward selling some stakes.
Co-COO Andrew Scott will oversee that portfolio analysis.
The holding company said it was selling more than 5.8 million shares priced at $52. If all the offered shares sell, they would bring in a little more than $300 million.
WPP bought a 20% in Globant back in 2013 for about $70 million.
Goldman Sachs and J.P. Morgan are jointly leading the offering.