MUMBAI: Aegis Group plc announced that it has acquired a majority stake in its affiliate Triangulo Publicitario in Santiago, Chile.

Triangulo and Aegis have been partners in Chile since 2007 serving Carat’s global clients in the region. The current leadership that includes CEO Ivan Pozarski will continue to lead the agency.

Aegis has an option to acquire the remaining stake in Triangulo Publicitario within the next five years.

Aegis LATAM CEO and president Claudia Colaferro said, "Chile is one of the fastest growing economies in Latin America and we are therefore delighted to be acquiring a majority stake in our long-term partner there. Triangulo has been vital to the positioning of Aegis’s global clients in Chile and the acquisition of Triangulo will allow Aegis to build the Carat brand further in Chile, as well as provide our clients there with a wider service offering.”