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New Deal


Announced

Completed

Providence, WPP offered $576.8m for Chime Communications.

Financials

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Transaction Value£338m
Consideration TypeCash
Capital Owned20%
Capital Bid For80%
EV/Sales1.1x
EV/EBITDA14.81x
Share Price Premium-
One Off Charge-

Sources

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Tags

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Media Agencies

sports marketing

Media

Public

Mbo

Scheme

Completed

Friendly

Single Bidder

United Kingdom

Majority

Private Equity

Synopsis

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Providence Equity Partners and WPP agreed to acquire Chime Communications plc for approximately £374m ($576.8m) in cash. WPP already owns 20% in Chime and reportedly plans to keep it stake at that amount, making Providence the majority owner. London-based Chime is a communication and sports marketing group.

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