KKR to acquire a 50% stake in FGS Global from WPP for $775m.

KKR, a global investment firm, agreed to acquire a 50% stake in FGS Global, a global strategic communications consultancy, from WPP, a British multinational advertising and public relations company, for $775m. "The sale of FGS represents an excellent outcome for WPP. Together with the management of FGS we have built a world-leading strategic communications and advisory group, creating considerable value for all stakeholders. We have achieved an attractive price, enabling WPP to accelerate the crystallisation of the significant value created. This also provides WPP with greater financial and management flexibility as we continue to grow our core business including Burson and Ogilvy Public Relations which give our clients access to world-class public relations services,” Mark Read, WPP CEO.