By A Correspondent
Munich, Germany-based Aurelius Equity Opportunities has sold its subsidiary Publicitas, a leading advertising marketer whose head offices are located in Zurich, Switzerland, to its existing management team headed by CEO Joerg Nuernberg and CFO Dr Carsten Brinkmeier. It was agreed that no information on the financial details of the transaction would be disclosed. Publicitas operates in India from Mumbai, Delhi, Bengaluru and Chennai. Not much is known on the fate of the Indian operations which is reported to be run in association with leading media sales and marketing firm Mediascope. Confirming the development, a senior company functionary refused to divulge what the future holds for the Indian operations of of the transnational firm.
Publicitas has a cross-media portfolio of over 8,000 promotional offerings in Switzerland and abroad. Advertising clients and agencies can use these to position their messages via media placements in leading daily newspapers, luxury magazines, on outside advertising, in TV and radio stations and on mobile and digital platforms in over 100 countries.
It may be noted that Aurelius took over Publicitas from the Swiss PubliGroupe in July 2014. The purchasing management team will systematically continue the measures already initiated and will continue to expand digital activities with top priority, according to an Aurelius communiqué.
Support processes such as accounting, order-handling and other administrative processes are to be successively outsourced to the established shared service-centre ad back-office in Bratislava (Slovakia), thereby contributing to further cost-savings and increases in efficiency.
By A Correspondent