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Delaney Lund buys back stake from IPG

By Published on .

[London] Delaney Lund Knox Warren, the Interpublic Group of Cos.-backed London shop that won a large chunk of sibling agency Lowe's General Motors Corp. business in 2003, is buying back Interpublic's minority stake for $11 million and selling the agency to U.K. marketing services group Creston for $75 million. The six DLKW partners will end up with a 20% stake in Creston.

DLKW, a top 20 U.K. agency, counts Burger King, Exxon Mobil and eBay, among its clients. Interpublic inherited a stake in DLKW, previously Delaney Fletcher Bozell, when it bought True North. Interpublic ended up with 26% of an agency that didn't have a place in its global plans, and DLKW management did not want to merge in with one of Interpublic's London shops.

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