BRAZIL'S W/BRASIL SELLS SHOP IN PORTUGAL

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RIO DE JANEIRO -- Ad agency W/Brasil, Sao Paulo, part of Prax Holding, which owns several Brazilian marketing and promotional agencies, is left without a European connection after it sold its stake in its Lisbon-based ad agency, W/Portugal, to its local partners, Jaime Mourao-Ferreira and Teresa Lanca.

The move ends a seven-year relationship with Portugal for the Brazilian partners of W/Brasil: Washington Olivetto, Gabriel Zellmeister and Javier Llussa Ciuret. The Lisbon shop, however, will retain the "W/" brand. Main clients include Daewoo, the daily O Independente, cosmetics company MBB Teixeira and insurance company Eurovida. Financial details of the deal were not disclosed.

W/Portugal wasn't part of Prax Holding. Apart from W/Brasil, Prax also owns owns marketing agencies Lew Lara, Guimaraes Profissionais, Propaganda Registrada, Parra Comunicacoes, Made in Brazil (promotions) and Pop Com (Internet).

W/Brasil let go of its Spanish connections three years ago, and the network now has no international links. It is exploring possibilities of expanding into Latin America, mainly in the region's two other leading markets, Argentina and Mexico.

Copyright March 2001, Crain Communications Inc.

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