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Scholz & Friends Next in Cordiant Asset Auction?

News, 11 February 2003


The disposal of assets by London-headquartered agency group Cordiant Communications seems to be gathering pace, with reports that it is putting its majority stake in Scholz & Friends up for auction.

Cordiant, which is looking for ways to reduce debt, owns 77% of Scholz, a German-based network operating in 13 European markets.

Its attempts to offload the agency follow last week’s news that it is trying to sell its chief Australian asset George Patterson Bates [WAMN: 05-Feb-03].

Data sourced from: AdWeek.com; additional content by WARC staff