In response to a request from the Interpublic Group of Companies (IPG), the Board of Lintas India Private Limited, a leading communications group in India has approved, in principle, a proposal from the shareholders of the Company to transfer the balance 51% of the shares to IPG. The proposed transaction is awaiting approval from the relevant authorities.
The decision to integrate fully into the Lowe Worldwide/IPG system will further strengthen Lintas India’s readiness to meet the challenges of the new marketing environment in India. The decision was also an outcome of three main aspects:
1 Significant changes in the servicing needs of global clients, requiring fully integrated global management and creative teams on their brands, and the increasing needs of Indian clients for services outside the country.
2 Increasing importance of world-class expertise in Integrated Communications services above and beyond mass media. This move will open up opportunities for Lintas India’s specialized businesses to integrate fully with IPG companies abroad that are already functioning as leaders in their respective areas in advanced markets like the USA, UK and Europe.
3 Enhanced opportunities for Indian managers to contribute to the global system.
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