LONDON (Alliance News) - WPP PLC Friday said its Y&R Advertising arm has struck a deal to buy the creative and research agency business of Mongolian conglomerate MCS Holding LLC for an undisclosed amount.
The deal is the first made by WPP in Mongolia and makes Y&R the first global advertising network to set up a majority-owned agency office in the country.
After the deal, the business will be renamed Y&R Mongolia. It counts the likes of MCS Asia Pacific Brewery, Bell, Herbalife and JTI amongst its clients, WPP said.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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WPP (WPP)
