M&C Saatchi Australian buyout called off

M&C Saatchi Australian buyout called off

The buy-out of M&C Saatchi’s Australia and New Zealand business by its management team has fallen apart after failing due diligence, just six weeks after it was first announced. The local management team agreed to acquire the agency from its London-listed parent company, with backing by investment firm Parc. Under the terms of the original […]

M+C Saatchi’s Parc-backed Australia and NZ management buyout will no longer proceed

M+C Saatchi Group has today announced that, following an extensive review of strategic options for its Australia and New Zealand advertising agency, the previously announced management buyout of the business, backed by private equity, will not proceed.   Following constructive discussions, it was ultimately determined that a transaction could not be concluded on terms acceptable to all stakeholders. In light of the decision not to pursue the man…

M+C Saatchi’s Parc-backed ANZ management buyout will no longer proceed

M+C Saatchi Group has today announced that, following an extensive review of strategic options for its Australia and New Zealand advertising agency, the previously announced management buyout of the business, backed by private equity, will not proceed.   Following constructive discussions, it was ultimately determined that a transaction could not be concluded on terms acceptable