WPP (GB:WPP) has released an update.
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WPP has completed the sale of its majority stake in FGS Global to Kite Bidco Inc., valuing the deal at $1.7 billion. The transaction will generate $767 million in cash proceeds for WPP, which will be used to reduce the company’s leverage. This move is expected to be earnings neutral for WPP in 2025, providing significant value for shareholders.
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