Incepta sells stake in Lopex
Saturday 17 July 1999
Havas Advertising, the French advertising conglomerate which made a pounds 67m all-cash bid for Lopex on Thursday, had yesterday secured acceptances for its bid from more than 50 per cent of shareholders.
Incepta, which owns Citigate Dewe Rogerson, the PR group, began building its stake in Lopex in April 1997 at a total cost of pounds 5.5m, an average purchase price of 37.6p a share. The Havas bid is worth 120p a share. A spokesperson for the group said that its chairman, Bob Morton, stood to pocket a pounds 1.3m profit from his 3 per cent stake in Lopex.
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