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WPP Plc (NYSE:WPP) shares are trading higher on Wednesday.
The company is reportedly exploring possibilities to divest its 40% interest in the market research firm Kantar.
The British owner of advertising agencies aims to generate cash and tackle its declining stock value, Bloomberg reported, citing people familiar with the matter.
The London-based company is collaborating with an adviser to examine various options, including the complete sale of its remaining stake in Kantar, the report read.
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This stake was retained after the 2019 transaction where 60% of Kantar was sold to the buyout firm Bain Capital, it added.
A potential deal could assign an equity value ranging from approximately $3 billion to $4 billion to Kantar, the report added. Kantar is carrying around $4 billion in debt.
In a separate development, Bain is reportedly preparing to initiate the sale of Kantar Media, a subsidiary of Kantar responsible for managing the television audience measurement system BARB. This particular unit could fetch a valuation of approximately £1 billion in a sale, Bloomberg reported.
Discussions regarding WPP's potential divestiture of its stake in Kantar are currently in preliminary phases, with no definitive conclusions reached yet.
WPP might choose to maintain its ownership in the business if it fails to identify suitable alternatives for the stake, Bloomberg added.
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Price Action: WPP shares are trading higher by 1.17% to $48.39 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: WPP
