Dewe denies DR deal but will listen to offers

nullCity PR giant Dewe Rogerson has denied that it is up for sale, despite mounting speculation that it is locked in negotiations with a potential buyer.

City PR giant Dewe Rogerson has denied that it is up for sale,

despite mounting speculation that it is locked in negotiations with a

potential buyer.



Sources close to Dewe Rogerson claim that its three principal

shareholders - group chairman Roddy Dewe, group chief executive Nico

Rogerson and executive chairman Tony Carlisle - are nearing a final

deal.



Citigate and Burson-Marsteller have both been named as possible bidders,

although it remains unclear if the deal will involve the wholesale

acquisition of the group or, as sources suggest, a handover of the 25

per cent stake owned by joint founder Dewe and the nine per cent held by

group director John de Uphaugh.



Seventy-seven per cent of Dewe Rogerson’s equity is divided almost

equally between Dewe, Rogerson and Carlisle. Around 14 per cent is

divided between senior managers in London and New York and a number of

original investors.



Roddy Dewe, who at 61 takes a hands-off approach to the running of the

agency, flatly denied that Dewe Rogerson or individual stakes in it were

on the market. He added that Citigate and B-M had not made approaches

for at least three years. However, he conceded that appropriate offers

would be considered.



’We have an open door and there is endless opportunity for people to

come forward,’ he said. ’Maybe one day somebody will come along with a

figure and we will listen.’



Founded in 1969, Dewe Rogerson is ranked the UK’s sixth biggest PR

business.



Fee income in 1995 reached pounds 10.7 million on turnover of pounds

21.7 million.



The company has handled some of the biggest UK and overseas

privatisations to date - including Railtrack, the nuclear industry and

Deutsche Telecom - but is keen to develop mainstream financial and

corporate PR work.



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