TBWA Worldwide acquires 49-per cent cent stake in Omnicom's TBWA India

TBWA Worldwide has announced the completion of its acquisition of the minority shareholding in TBWA India. Till now, the minority stake was held by three Indian shareholders.

After the acquisition, TBWA and marketing and corporate communications company Omnicom will own all of TBWA India. TBWA Worldwide will hold 49 per cent.

TBWA India, which employes around 270 people across six locations, has a client list that includes Playstation, GE Money Wizard, TATA Gold Plus, Polaris, Dabur Consumer Care, Planet M and Procall among others.

In a statement, Keith Smith, president of International TBWA Worldwide said that the consolidation of the group's stake constitutes the closing of ''a very significant chapter in the history of TBWA in India''.

Of the three Indian shareholders, George John, who holds the largest share, will remain at the agency along with Kurien Mathews till the end of the month. Thereafter, George John will continue with TBWA India in an advisory capacity.

N Krishnan, the third shareholder will assume a larger role as Chief Operating Officer for the TBWA India Group.

Smith said that TBWA has had a very successful new business run during the last two years that has propelled the agency way up on the agency rankings list. He said the agency's ability to deliver ''truly disruptive solutions together with strong creative work'' has seen TBWA arrive on the advertising map in India.