Group Press Releases
Aegis to Acquire Turkish Media Agency - MEDYATURK
28 April 2005
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group – announced today that it has signed an agreement to acquire 100% of the equity of the Turkish media planning & buying agency Medyaturk subject to local regulatory approval. It is expected that the regulatory approval will be received before the end of June 2005. On completion Medyaturk will become part of Aegis Media’s network in Turkey.
The purchase price will be composed of a total consideration of up to €11,608,000 payable over three years and subject to rigorous performance criteria.
Robert Lerwill, CEO of Aegis Group plc said:
“The acquisition of Medyaturk will transform Aegis Media’s position in Turkey where our combined resources will now rank us amongst the top three media agencies. Not only will this enhance the service we can provide to our international clients but access to the global network will also open up a whole realm of new possibilities for Medyaturk’s clients too. I am extremely impressed by Medyaturk’s team and welcome them as a valuable part of the Aegis Media network.”
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
