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Publicis to pay full price for Zenith

By Published on .

[Paris] Publicis Groupe will likely pay the full price of $120.7 million, or 75 million British pounds, to acquire the 25% stake in ZenithOptimedia it doesn't already own, said Chairman-CEO Maurice Levy. He told analysts he had reached a verbal agreement on June 16 with WPP Group Chief Executive Martin Sorrell to acquire Cordiant Communications Group's stake in Zenith for $106.7 million, but was later informed that WPP would hold Publicis to the $120.7 million figure specified in Cordiant's contract with Publicis. The final price tag will reach $136 million, reflecting a $16.1 million payment for several Zenith offices in Asia that were owned and operated by Cordiant's Bates network.
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