Omnicom has reached an agreement to divest its controlling stake in Brazilian corporate communications agency CDN Comunicação to a management-led investor group headed by Chief Executive Officer Fábio Santos, in partnership with Brazilian advertising agency NOVA.
The deal covers Omnicom's 73.82% shareholding in the São Paulo-headquartered agency. Financial terms were not disclosed, and the transaction is subject to approval by Brazil's competition authority, CADE.
Founded in 1987, CDN Comunicação employs around 150 professionals and specialises in corporate communications, strategic communications, public affairs, crisis management and reputation advisory. Following the completion of the transaction, Santos will remain at the helm of the agency, ensuring continuity in its leadership and operations.
The acquisition will be executed through a newly established holding company representing the investor group, comprising Santos and NOVA. Once completed, the transaction will return majority ownership of CDN to Brazilian investors while establishing a strategic partnership between the communications consultancy and the advertising agency.
The divestment comes as Omnicom continues to reshape its global communications business following the completion of its acquisition of Interpublic. In recent months, the advertising and marketing services group has announced a series of structural changes across its public relations portfolio, including the combination of Ketchum and Golin under a unified leadership structure and the integration of Porter Novelli into FleishmanHillard, as it streamlines operations and strengthens its integrated communications offering.
