Global advertising company Publicis Groupe has reportedly held talks with a private equity investor about a possible sale or transaction.
Campaign UK quoted multiple sources saying they knew of recent private equity interest in the French group.
"The sources pointed to CVC, one of Europe’s largest private equity firms, which has its headquarters in Luxembourg and has various investments, including sports media rights and the corporate public relations and advisory firm Teneo," Campaign reported.
Publicis has been contacted for comment.
In October, Publicis posted third quarter organic growth at a better than expected -5.6%, ahead of forecasts of -10%.
The group's US business led the results with organic growth at -2.4%, better than market forecasts at -7%. The region represents 60% of Publicis business.
Net revenue in the first nine months of 2020 was up 2.7% to 7,117 million euros compared to 6,929 million euros in the same period in 2019.
Organic growth was -7.2% over the nine months. Europe was at -14.1%, North America -3.4%, Asia Pacific -5.9%. Latin America -15.4% and Middle East and Africa -11.5.%.
Outlook: “The relatively solid business trends that the Groupe has demonstrated year-to-date should continue until year-end. However, with the current resurgence of the pandemic and the restrictions imposed, the Groupe remains cautious about Q4, which might be impacted further and come below Q3.”
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