(Alliance News) - WPP PLC on Tuesday said that investee FGS Global has bought Longview Communications & Public Affairs Inc.
WPP is a London-based advertising and corporate communications firm. It owns a 57% stake in FGS Global, which is a global strategic communications consultancy.
FGS Global has bought Longview - another communications and public affairs advisory firm - for an undisclosed price, WPP said on Tuesday.
According to the terms of the purchase, Longview will operate as FGS Longview in Canada, advising clients on corporate and financial communications, issues and crisis management, special situations, government relations, regulatory affairs and foreign direct investment approvals.
However, the new venture will continue to be led by Longview partners Josh Pekarsky, Bruce Drysdale, Ian Hamilton and Hugh McFadyen.
WPP shares were trading 1.4% lower at 699.60 pence each in London on Tuesday afternoon.
By Holly Beveridge, Alliance News reporter
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