WPP unit takes majority stake in Turkish PR firm

20th Apr 2016 08:42

(ShareCast News) - WPP said its Burson-Marstellar unit had agreed to take over Turkish communications firm Effect PR for an undisclosed sum.Istanbul-based Effect employs around 80 people and has been Burson-Marsteller's exclusive affiliate partner in Turkey since 2012, WPP said in a statement.After taking a majority stake, WPP said the agency would be renamed Effect Burson-Marsteller.Effect's clients include Microsoft and General Electric. Unaudited net sales for the year ended 31 December 2015 were approximately $2.5m, with gross assets at the same date of around $3.3m.

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