Group Press Releases
Aegis Acquires Equity in Russian Media Agency
20 September 2005
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group - announced today that it has signed an agreement to acquire an initial 52% equity stake in the Russian media company Komandarm; trading under the name Vizeum Russia. Under the agreement Aegis will also acquire the outstanding equity by 2009.
The purchase price for 100% of the equity will be comprised of an initial consideration and a deferred consideration of up to a maximum of approximately Euro16 million, payable over five years and subject to earn out criteria.
Komandarm was founded in 1995 and operates in partnership with Aegis Media in the Russian market. The agency has an impressive track record in Russia where it services a number of local and international clients including: Alfa Bank, Bridgetown Foods, Eldorado, Heineken and JTI.
Robert Lerwill, CEO of Aegis Group plc said:
"Komandarm has acted as an affiliate agency for some time now and bringing its ownership into the Group will now enable full participation in the Vizeum network. We look forward to working with the management team which has vast experience in helping clients to establish their brands in the fast-growing Russian market".
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 311
