INTERNATIONAL NEWS: Havas Advertising debuts on NASDAQ

NEW YORK: Havas Advertising, which owns Euro RSCG and Magnet Communications, is set to debut on the Nasdaq this Wednesday, September 27.

NEW YORK: Havas Advertising, which owns Euro RSCG and Magnet Communications, is set to debut on the Nasdaq this Wednesday, September 27.

NEW YORK: Havas Advertising, which owns Euro RSCG and Magnet Communications, is set to debut on the Nasdaq this Wednesday, September 27.

The move coincides with a period of intense acquisition for the Paris-based agency, which is also registered on Bourse, the Paris Stock Exchange.

Jean-Michel Carlo, chairman and CEO of the Diversified Agencies Group, which houses most of the firm's PR assets, said the company is negotiating to buy a US investor relations agency to ramp up its global capabilities.

'It will happen by the end of the year,' he said. 'We think it is a very important, fast growing business.'

Havas Advertising has just snapped up 60% of a UK financial relations agency, Hudson Sandler. Havas is understood to have agreed to pay around dollars 14 million in cash and a further dollars 14 million in earn-out payments.

Hudson Sandler's relationship with the group began when it helped Havas purchase marketing services client Lopex.

Hudson Sandler director Alistair Mackinnon-Musson said the firm may visit US corporate cousins Magnet Communications, which is headed by Darryl Salerno. The four companies that merged to form Magnet are moving to new office space in Manhattan's Chelsea Market this week.

Havas acquired Toronto-based Vickers & Benson, a 225-person advertising and PR shop, this month.

Havas will become the world's fourth largest communications group on completion of its takeover deal with US-based Snyder Communications.



HAVAS' PR ASSETS

Diversified Agencies Group:

Magnet Communications formed through a merger of Creamer Dickson Basford, Kratz & Jensen, Capstone Communications and ACG Communications.

Euro RSCG: Middleberg + Associates, Snyder Communications and Arnold PR.



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