The news follows OMD's win last week of Levi Strauss & Co.'s $50 million-plus media account, and other recent wins including Dial-Henkel, Callaway, McAfee, Intel, and new business from Visa.
While the loss of Renault, with billings estimated in the $700 million-plus range, is another loss for Aegis--which has had a poor new business record, mainly in the U.S.--it is its first major loss in Europe, and insiders estimate that it amounts to less than 1% of Aegis Group's total revenues.
The review, which began more than six months ago, stems from a marketing alliance formed between Japan's Nissan--long an Omnicom client--and Europe's Renault.
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