Chime Communications is all set for its £20-25m buyout of the advertising group HHCL & Partners. It is expected that WPP, the largest marketing services group in the world, will be taking a 25-30 per cent stake in the enlarged Chime, thus funding the acquisition of HHCL.
A deal of this nature will provide Chime and HHCL, both UK-based, with access to WPP’s extensive international network. The companies will retain their own names and Piers Pottinger, managing director at Chime, is expected to become joint chief executive with Rupert Howell, chief executive of HHCL.
WPP: 0171 408 2204
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