Ventures Africa reports that advertising and communications services company, ScanGroup will acquire majority stake in Experiential Marketing (Proprietary) Limited (EMPL), a South African marketing company, as it aims to expand its African footprint.
Ventures Africa: ScanGroup To Acquire Majority Stake In South African Marketing Company... According to the report, a director of ScanGroup, Richard Omwela noted in a regulatory filing that "Completion of the acquisition is subject to various conditions contained in the agreement including regulatory approvals".It further states that ScanGroup decided to invest in EMPL due to its portfolio of clients across sub-Saharan Africa. The value of the deal is however not disclosed.
