World's largest ad agency to open headquarters in the Netherlands

29th July 2013, Comments 0 comments

The world's largest communication, pr and advertising agency is to locate the headquarters of its holding company in the Netherlands.

The announcement came on Sunday, shortly after the US Omnicom and the French Publlcis agencies declared their intention to merge.

The choice of the Netherlands for the holding company headquarters is because the country is 'neutral terrain' and not because of the favourable tax climate, Publicis CEO Maurice Lévy told news agency Bloomberg.

The operational headquarters and the stock exchange listings will remain in New York and Paris.

The two agencies have a joint turnover of €17.7bn and a market value of €26.5bn. Together they will form the world's largest communications agency.

The finalisation of the merger is expected later this year or early in 2014.

Earlier this year, Publicis took over the Amsterdam internet marketing company LBi for €400m.



© DutchNews.nl

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