GroupM acquires 30% stake in 3 media companies in Vietnam
18 June, 2008
WPP announces that its wholly-owned operating company GroupM, the leading media investment management network, has agreed to acquire, subject to regulatory approval, a 30% stake in 3 flagship media companies within Datviet VAC Group Holdings: DatvietVAC Media Corporation (‘VAC Media’), a leading Vietnamese media investment management agency, Dong Tay Promotions Corporation (‘DTP’), a leading promotions and content agency and TKL Corporation (TKL), a leading programming and media buying and planning operation.
Based in Ho Chi Minh City, VAC Media, DTP and TKL together employ 128 people. VAC Media clients include Vinamilk, Vietnam Brewery Limited and IBC (PepsiCo); TKL clients include Number 1 (owned by leading drink and beverage company, THP) and Sfone; and DTP's programmes include Vietnam Idol, Ngoi Nha Mo Uoc (Dream House, a leading Vietnamese reality show) and HTV Awards.
VAC Media, DTP and TKL’s combined unaudited revenues for the year ended 31 December 2007 were VND 156,036 million, with gross assets at the same date of VND 320,810 million.
This investment continues WPP’s strategy of developing its networks in fast growing markets and sectors. Vietnam, where WPP has been operational through its companies for more than 10 years, is one of the fastest growing markets in the world, identified by Goldman Sachs as one of the "Next 11" world economies to watch. It has a population of 85 million and GDP growth rate of 8.5% in 2007. Contact:
Feona McEwan, WPP
T. 44-20 7408 2204 www.wpp.com