Aegis Takes Controlling Stake in Chinese Ad Shop

18 December 2007

LONDON:Media and research giant Aegis Group has added to is global portfolio with the acquisition of a controlling stake in Hong Kong and China-based Heartland Media Group.

Cash on the out-of-home specialist's table is said to be £4.6 million ($9.29m; €6.44m). In addition to its Hong Kong operation, the shop has six offices across mainland China and its clientele includes Coca-Cola, Hitachi and Nokia.

Says Aegis ceo Robert Lerwill: "Posterscope is the leader in out-of-home worldwide, and this acquisition extends that lead at exactly the right time, in the right place.

"Out-of-home in China is one of the sweetest spots in our industry. This is an exciting acquisition, with immense potential for growth ahead, and we have high expectations for its future success."

Data sourced from BrandRepublic (UK); additional content by WARC staff