WPP has scheduled a shareholder meeting on October 24 in London to vote on the company’s proposed sale of 60% of research giant Kantar to Bain Capital.
The deal, struck in July, puts a valuation on Kantar of about $4 billion.
In addition to WPP shareholder approval, the agreement is subject to anti-trust approvals globally where Kantar operates. It is also subject to a reorganization of Kantar that will carve the division out of WPP and place it within its own holding structure.
The parties have said they hope to complete the transaction in early 2020.
WPP will use some of the proceeds of the sale to reduce debt. An estimated $1.2 billion will be returned to shareholders.