LONDON (Reuters) – British ad group WPP on Wednesday agreed to sell its controlling stake in FGS Global to minority shareholder KKR for $775 million, implying an enterprise value for the financial PR agency of $1.7 billion.
WPP, which also downgraded its 2024 guidance on Wednesday, said it would use the proceeds to reduce its debt.
(Reporting by Paul Sandle; Editing by Alistair Smout)
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