PARIS: French marketing services conglomerate Havas is expanding its presence in the Middle East, via an agreement to increase its stake in a subsidiary of local luxury goods sales and marketing specialist Chalhoub Group.
Havas currently holds a minority stake in the subsidiary and has agreed to transform this into a 50/50 joint venture with Chalhoub. The focus will be on markets in Egypt, Oman, Syria, Jordan, Yemen, Iran, Iraq and the Palestinian Territory.
Comments Havas ceo Fernando Rodes: "This deal gives us an immensely strong offer in this key region and is a key part of our growth plans."
Data sourced from Brand Republic (UK); additional content by WARC staff