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A Chinese company has set its sights on a North American advertising player, with Beijing’s BlueFocus close to finalizing the purchase of assets from Vision7 International, parent of one of Canada’s most well-known agency networks, Cossette, according to sources.
Sources estimated the purchase price at $220 million.
Brett Marchand, CEO of Vision7 and Cossette, declined to comment specifically about the talks but acknowledged in a statement that since the summer Vision7 investor Mill Road Capital has been reviewing "strategic alternatives for its majority holdings in Vision7 International's North American assets.
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