INTERNATIONAL NEWS: Interpublic readies for dollars 20m Nueva buy

BUENOS AIRES: Interpublic inched even closer to gaining a stronghold in Latin America last week as it neared a deal to buy Nueva Comunicacion, the region’s biggest PR agency, for more than dollars 20 million.

BUENOS AIRES: Interpublic inched even closer to gaining a stronghold in Latin America last week as it neared a deal to buy Nueva Comunicacion, the region’s biggest PR agency, for more than dollars 20 million.

BUENOS AIRES: Interpublic inched even closer to gaining a

stronghold in Latin America last week as it neared a deal to buy Nueva

Comunicacion, the region’s biggest PR agency, for more than dollars 20

million.



The deal, which will likely be completed this week following nearly a

year of back-and-forth negotiations, will see the global communications

conglomerate buying a majority stake of up to 80% in Nueva, an agency

with fee income of dollars 10 million last year.



Although Nueva officials would not confirm or deny the deal, one

high-placed source said Interpublic will pay well over dollars 20

million for the agency. That would be by far the highest sum ever paid

for a Latin American PR firm.



Interpublic’s interest in Nueva comes as little surprise. The agency

boasts top-notch media relations and lobbying capabilities, as well as

excellent connections to the new Argentine government. It has also

developed a network of 20 PR agencies in the region and Europe that

enables it to operate as a regional multinational. In the Argentine

market alone, Nueva is three times the size of its nearest competitor,

Burson-Marsteller.



Nueva’s recent triumphs include landing Spanish/Latin American phone

giant Telefonica earlier this month - an account valued at nearly

dollars 2 million. The agency has more than 80 active accounts as well

as the biggest crisis practice in Argentina.



The architects of the deal were Larry Weber, founder and CEO of

Interpublic’s Weber Group, and Cesar Mansilla, Nueva’s owner and a

veteran of the Latin American PR scene.



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