WPP Scangroup Limited has completed the acquisition of a majority stake in leading market research agency Research and Marketing Group Investment Limited that operates Kantar TNS in several African countries.
The firm says regulatory approvals have been fulfilled and the transactions completed on July 31, 2018.
WPP Scangroup acquired the 70% shareholding in Research and Marketing Group Investment Limited, held by Russell Square Holdings BV, a subsidiary of WPP and 10% of the 30% shareholding held by International Research and Marketing Group Holdings.
The move now makes Kantar TNS a subsidiary of WPP Scangroup having 80 % shareholding.
“We take this opportunity to welcome Russell BV as a shareholder and Kantar TNS and their employees into the WPP Scangroup network and look forward to work together closely to enhance shareholders’ value,” the firm said in a statement.
WPP Scangroup currently provides market research services through Kantar Millward Brown.
The acquisition of Kantar TNS will enable WPP Scangroup align the two market research businesses, for enhanced service for clients and increased operational efficiency.
Kantar TNS and Kantar Millward Brown are each part of Kantar Group, WPP Plc’s data management division and one of the world’s largest insight, information and consultancy groups.
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Kantar TNS operates in Nigeria and Kenya, which are primary markets for WPP Scangroup, and other countries including Senegal, Cameroun, Cote d’Ivoire and Ghana.