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Saturday, Dec 09, 2006

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Corporate - Restructuring
Aegis, Percept revamp operations

Our Bureau

Mumbai, Dec. 8

Restructuring its operations, Aegis Media has sold out its stake in PDM (Percept D'Mark) and Posterscope to Percept Holdings in India. In 2002, Aegis acquired a 25.1 per cent holding in PDM India, Percept's sports, entertainment and sponsorship marketing company.

In September 2004, Aegis acquired 51 per cent of Percept Out-of-Home (later renamed as Posterscope) from Percept. Percept will now have complete ownership of PDM India and Posterscope India with full management control. The name of Posterscope India will be changed once the proposed restructuring is completed. On the other hand, Aegis will buy out Percept Holding's 27 per cent stake in Carat India, which will be completely owned by it with full management control.

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