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Dentsu has sold the majority of its stake in Publicis Groupe, ending what was hoped to be a strategic alliance that would further the Japanese holding company’s expansion outside Asia.
In the current transaction, Dentsu sold back to Publicis 18 million of its shares, or 9.3 percent of outstanding stock, for $848.5 million. In 2010, Publicis began the buyback process by purchasing 3.8 percent of its shares from Dentsu for $286 million.
Dentsu initiated its investment in the Paris-based holding company when Publicis bought BCom3 in 2002, which owned D’Arcy, Leo Burnett, Starcom MediaVest and Bartle Bogle Hegarty.
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