This archive report was first published on 3 July 2020.
On 30 June 2020, WPP Scangroup announced the completion of the disposal of its shareholding in Kantar Business in Africa, marking a significant milestone for the company.
The disposal includes the sale of 100% of its stake in Millward Brown East Africa Limited, Millward Brown Nigeria Limited, and Millward Brown West Africa Limited, as well as 80% of the issued shares in Research and Marketing Group Investment Limited, a Mauritian holding company for Kantar TNS businesses in several countries.
According to the company, the transaction was completed on 30 June 2020, and the Board of WPP Scangroup will decide on the use of proceeds and the dividend to be recommended to shareholders, which the board expects to be at least 40% of the net proceeds.
As per the shareholders circular dated 30 April 2020, the company plans to pay a special dividend of Ksh4.7 per share or an aggregate of Sh2 billion using the proceeds.
Scangroup had previously hinged payment of dividends for the Financial Year ended December 2019 on completion of the transaction, which the company was hoping would be done before the end of 2020.
