(5 April 2006 5:00 pm)

MUMBAI: Publicis Groupe, through its international public relations network, Manning Selvage & Lee (MS&L), has acquired an additional 21 per cent stake in Capital MS&L (Capital). This gives the Groupe a majority ownership of 51 per cent in the international financial communications firm.

The acquisition strengthens Publicis Groupe's ability to offer financial communications and investor relations advice internationally and will support Capital's continuing strong growth.

At the same time, Publicis Groupe has decided to consolidate its UK-based financial PR and investor relations operations within Capital MS&L, which will keep its name.

Nick Bastin, who was hired by Publicis Consultants in March 2005 to establish a UK-based financial PR and IR practice, will now join Capital MS&L as director, with immediate effect. Bastin has advised clients including Arcelor, Legrand, Saras, Eutelsat, Eurotunnel and Wind during the course of the last year.

MS&L CEO Mark Hass said, "The Groupe's initial investment in Capital has more than paid off and we are now delighted to be increasing our ownership in an established, successful and rapidly growing business with a number of large high profile clients. We have ambitious plans for the coming years and this consolidation of our position in the financial communications market will help us to realise these plans."

"Since our incorporation in 2001, we and our clients have benefited greatly from our association with Publicis Groupe. We have worked successfully with many companies within the Groupe to offer our clients true international communications solutions that span both geographies and marketing disciplines. We are looking forward to building on our success as a formal member of Publicis Groupe," said Capital managing director Steffan Williams.

"Nick brings a wealth of experience to Capital and has worked extensively with Publicis' Groupe networks across Europe over the last year. He is a valuable addition to our business and will further strengthen our ability to service major international corporates, both into the UK and internationally," he added.