Publicis Groupe has announced the purchase of 7,500,000 shares of its own stock from Dentsu Inc., in order to cancel the block of shares. The acquisition was carried out for a total of EUR 217,500,000, at EUR 29 per share. The purchase was financed with available cash. The transaction was unanimously approved by members of the Supervisory Board and the Management Board on May 7. The transaction took place on Monday morning, May 10, before the opening of the Paris Stock Market. The shares were immediately cancelled.
The transfer of shares does not affect Dentsu's voting rights with regards to Publicis, since they were in excess of the necessary 15% needed to maintain the rights.
Publicis Groupe is the world's third largest communications group and has activities in 104 countries across five continents.