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CVC, CDPQ pick majority stake in Chinese ad agency BlueFocus global unit
Image from BlueFocus s website.
May 5, 2021
Private equity firm CVC Capital Partners and Canadian investment fund Caisse de dépôt et placement du Québec (CDPQ) have jointly acquired a majority stake in the international agency division of Chinese communications services group BlueFocus.
The deal involves BlueFocus subsidiary agencies outside China – We Are Social, fuseproject, and Vision 7 International. Under the agencies are firms such as Cossette, Cossette Media, Eleven, and Citizen Relations, among others.
Financial details of the acquisition were not disclosed. The transaction is expected to be finalised in the third quarter of this year, according to the statement. The deal also comes less than a year after BlueFocus shelved its plans to spin off the subsidiaries into a newly listed company.
CVC and CDPQ Take Majority Stake in BlueFocus
CVC Capital Partners, a leading global private equity and investment advisory firm, and
Caisse de dépôt et placement du Québec, a global investment group, have reached an agreement with
BlueFocus Intelligent Communication Group for
CVC Capital Partners Asia V and CDPQ to acquire a majority stake in its international group of agencies, managed under its subsidiary,
BlueFocus International. This comprises its three main agency groups:
We Are Social,
Citizen Relations, among others.
“Our partnership with CVC and CDPQ, will allow us to advance our expansion and transformation strategy,” said
CVC & CDPQ set to acquire global agencies We Are Social, Fuseproject & Vision 7 International
May 5, 2021 11:35
Global private equity and investment advisory CVC Capital Partners (CVC) and global investment group Caisse de dépôt et placement du Québec (CDPQ) are to acquire a majority stake in BlueFocus Intelligent Communication Group’s international group of agencies, managed under its subsidiary, BlueFocus International. The agreement covers global social agency We Are Social and its sister agencies within BlueFocus, Fuseproject and Vision7 International.
CVC and CDPQ’s intention behind the acquisition is to create a “digital-first, technology-enabled global advertising and marketing services group of companies,” enabling the agencies to focus on market expansion and foster its tech and data capabilities.
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