PARIS: Capital Advertising, based in Delhi and one of India's leading independent agencies, has sold an unspecified 51%-plus shareholding to French-headquartered marketing services conglomerate Publicis Groupe.
Capital's national and global clientele include Apollo Tyres, CitiFinancial, DLF, Hero Group, LG, LML Maruti, Suzuki and Spice Telecom.
The deal marks an important strategic boost for Publicis in one of the most dynamic economies and fastest-growing advertising markets in the world.
It supplements Publicis's presence on the subcontinent, which already includes the Saatchi & Saatchi, Publicis and Leo Burnett networks; plus media agencies ZenithOptimedia, Starcom and the recently created India Media Exchange.
Excluding its latest acquisition, the group has over 1,100 employees in India.
Capital's founding directors Sunil Sachdeva and Prasad Subramaniam will remain in situ, reporting to Publicis Asia ceo Matthew Godfrey.
Data sourced from multiple origins; additional content by WARC staff