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.