SEC Newgate SpA - Milan-based communications, advocacy and research firm - Says two largest UK agencies, SEC Newgate UK Ltd, formerly Newgate Communications Ltd, and Newington Communications Ltd, will merge and rebrand as SEC Newgate UK.
"As part of this combination, SEC Newgate is increasing its stake in Newington from 60% to 100% and the business and assets of Newington have been transferred to SEC Newgate UK Ltd," company says.
Upping its stake will cost GBP420,799, payable in six instalments of GBP70,133 starting six months after completion and on a six-monthly basis thereafter.
The combined SEC Newgate UK, has 130 employees and eight offices across the UK.
"By the end of this year, it is intended that all agencies across the SEC Newgate group will transition to the SEC Newgate brand. This will enable advice to be delivered under one brand by over 600 professionals across six continents, providing clients with around the clock counsel and support, implementing campaigns locally, nationally and internationally," company adds.
Group Chief Executive Fiorenzo Tagliabue says: "SEC Newgate is already a top 30 global communications group and clients are increasingly working with many of our agencies across multiple jurisdictions. We now feel it is time to simplify our story and operate under one brand whilst ensuring that we retain the entrepreneurial spirit and domestic insights that are the hallmarks of our success."
Current stock price: 45.00 pence
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By Paul McGowan; paulmcgowan@alliancenews.com
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