French ad giant Havas seeks $260 million for expansion

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France's Havas Advertising, the world's eighth-largest advertising organization, plans to issue $260 million in bonds to help finance an acquisition drive to push it into the top five. Paris-based Havas has four divisions: Euro RSCG Worldwide, Europe's biggest and the world's seventh-largest ad agency brand; Campus, a five-office European network that Havas is currently trying to expand to the world's dozen largest ad markets; the media division; and diversified agencies. This year, Havas already has acquired Jordan McGrath Case & Partners, New York, for its Euro RSCG network and Rempen & Partner, Duesseldorf, for the Campus network.

Copyright February 1999, Crain Communications Inc.

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