FCB buys Brazil agency

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CHICAGO -- Foote, Cone & Belding acquired Giovanni Comunicacoes of Rio de Janeiro, Brazil, which it said is one of the top five independent agencies in that country with billings of more than $135 million. Financial terms were not dis- closed. The agency will be renamed Giovanni/FCB and partners Paulo Giovanni (president), Mauricio Nogueira (exec VP) and Adilson Xavier (exec VP- creative director) will remain.

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