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Mumbai, July 12 IPG (Interpublic Group) has bought out the remaining 49 per cent stake in FCB Ulka. The advertising agency was a 51:49 joint venture between FCB (Foote Cone & Belding), an IPG company, and Ulka Advertising and was set up 1961.

Without disclosing the amount paid for buying out the remaining stake, Mr M.G. Parameswaran, Executive Director, FCB Ulka, said, “We would now have a more integrated global system. There would be more people from the agency who would be working on global assignments and at the same time IPG would bring in its global skill sets into the country. The implications of this buyout are that we would be working more closely with our international counterparts.”

Recently, the IPG Group bought out the balance stake in Lintas India, another IPG-owned agency.

Related Stories:
IPG Group takes control of Lintas India

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