NAIROBI Aug 12 WPP plans to raise its
stake in Kenya's Scangroup to 50.1 percent from 33.616
percent through purchase of additional shares, the advertising
group said on Monday.
The transaction, which will be carried out by WPP's
subsidiary Cavendish Square Holding, will allow it to make
further investment in Scangroup, a leading African advertising
and public relations firm.
The deal will be subject to regulatory and shareholder
approval, WPP said in a statement.
Global firms have been making acquisitions in Africa in
recent years, seeking to reap from the continent's growing
economies and its increasing confident consumers.
(Reporting by Duncan Miriri; Editing by James Macharia)