WPP sells minority shareholding in Chime Group

MUMBAI: WPP today announced the sale of its minority shareholding in Chime Group Holdings Limited, the sports, entertainment, and communications group. The sale was made to the majority shareholder Providence for £54.4 million.

There will also be potential additional amounts based on the future value of Chime.

The disposal is in line with WPP’s new strategy as set out in December 2018, a key element of which is to focus on its main areas of business and simplify its operations through the disposal of non-core assets.

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