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Wednesday, September 30, 1998
Saatchi raises stake to 100 pc
ENS ECONOMIC BUREAU
MUMBAI, Sept 29: International advertising agency, Saatchi & Saatchi has bought out the 90 per cent holding of Sista's (Private) Ltd in Sista Saatchi & Saatchi Advertising (Private) Ltd, gaining full control of the agency.In 1993, Sista's entered into an alliance with Saatchi & Saatchi offering them a 10 per cent stake and inducted professional management into the board, S V Sista, Chairman of Sista's said. He, however, did not disclose the size of the deal. Sista Saatchi & Saatchi have added over Rs 500 million to their existing billing in the last six months despite the depressing market conditions prevailing in India. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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