Tue, 23 Jun 2020 09:00:41 GMT
Interpublic Group (IPG) subsidiary MullenLowe Group (MLG) has agreed to sell the majority of its shareholding in MullenLowe Indonesia to local management holding company Lintas Agra Perkasa, strengthening local ownership to best take advantage of the evolving marketing communications sector in the country. The new company will be called MullenLowe Lintas Indonesia (MLI).
IPG and MLG remain committed to Indonesia, retaining a 20% stake in the business. This stake and relationship in one of the largest markets in East Asia enables both parties to retain more active collaboration and access to resources than would be the case in a full divestment.
MLI comprises integrated brand communications, digital, activation, design and content production specialist business units. It offers strong local knowledge coupled with international standards of marketing communication excellence. The new management holding company is controlled and led by the MLI managing director David Setiaputra Lukas, who has led the agency in Indonesia since last year.
Commenting on the announcement, David said: “I believe change is an opportunity to become a more dynamic group while being a strong partner to clients, helping them to achieve their brand and sales goals. When clients place their trust in MLI we will cherish that opportunity to strive for high standards of professionalism and ethics while producing fresh and effective communications strategies with great clarity of thinking. That is our heritage and that won’t change.
The move to transition MLI to Indonesian majority control is consistent with MullenLowe Group’s strategy to create a more agile network in Asia built around market, team and individual skill sets and experience.
view more - Hires, Wins & BusinessMullenLowe Group, Tue, 23 Jun 2020 09:00:41 GMT