UK public relations and advertising group, Chime Communications, has today announced the acquisition of MMK Markt – & Medien-Kommunikation GmbH (MMK), a consumer and corporate public relations business based in Hamburg. Chime is to pay an initial consideration of DM5.6 million (£1.8 million) for the business.
DM1.7 million of the initial payment will be made by the issue of 424,000 new ordinary shares of 25p each in Chime and by DM3.9 million in cash.
Lord Bell, chairman of Chime said: “This is an important part of our German strategy. We have three agencies, Harvard in Munich, Smithfield Financial in Frankfurt and now MMK in Hamburg and Berlin. Klaus Stoffers will be chairman of Deutsche Chime, the new holding company we have established.”
