LONDON (Alliance News) - Matomy Media Group Ltd Friday said majority shareholders sold equity in the company following French advertising and PR giant Publicis Groupe's acquisition of a 20% stake on Monday.
Matomy Media said Publicis Groupe will acquire 17.9 million shares from existing Matomy shareholders for 227 pence per share, worth GBP40.6 million.
Chairman Ilan Shiloah, on October 10, sold 8 million shares equating to 8.94% of the issued share capital and now holds 13.8 million shares.
Chief Executive Officer Ofer Druker sold 2.5 million shares or 2.75% of the issued share capital. He now holds a total of 3.2 million shares.
Private equity firm Viola A.V. Adsmarket LP also sold 5.4 million shares.
Matomy Media had said on Monday that Publicis had acquired a 20% equity stake in the company, and has the option to acquire a further 4.9% shareholding within the next 45 days.
Shares in the digital performance-based advertising company were down 0.4% at 235.00 pence Friday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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