MAM

Rediff exits, Selvel acquires majority stake in OAP

MUMBAI: The Outdoor planning and buying company, Outdoor Advertising Professionals (OAP), is now controlled by Selvel Advertising, as the third partner Rediffusion-Y&R has exited the joint venture.


OAP will now be able to pitch for those accounts which were competing with Rediffusion Y&R’s portfolio.


OAP CEO Abhijit Sengupta said, “Rather one positive outcome would be that it will now on give us the opportunity to pitch-in for those accounts where we had restricted entry as they were competing with Rediffusion Y&R’s portfolio. We can also restart the dialogue with those advertising and media agencies which were in need of our services, which we kept in abeyance thus far.”



There will be no change in the day to day operations of OAP as for the last eight years it had been scouting, developing, and managing the entire client portfolio on its own.



Selvel Advertising chairman Noomi Mehta stated, “We at Selvel are very happy with the outcome of our association in the form of OAP. But from time to time the needs of each organisation change and different priorities emerge. Rediffusion realised this and wanted to do the right thing by exiting OAP and quit as equity partners. But I am sure the tremendous relationship we have built will survive and we will keep working together."

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