MAM
GroupM agrees to acquire majority stake in Filmworks China
MUMBAI: WPP has announced that its wholly-owned operating company GroupM, WPP’s global media investment management arm, has agreed to acquire Filmworks China, an entertainment marketing agency in China, subject to regulatory approval.
Founded in 2010, Filmworks’ service offering includes marketing of entertainment media properties, merchandise licensing, tie-in promotion, product placement and celebrity endorsements. It has a blue-chip client list that includes Electronics Arts, DreamWorks, TCL Television, Li Ning and Yili Group.
Filmworks’ unaudited revenues for the year ended 31 December 2011 were approximately RMB 12 million, with gross assets at the same date of approximately RMB 11 million.
This investment continues WPP’s strategy of developing its services in fast-growing and important markets and sectors. WPP has been committed to the Greater China region for over 20 years. Greater China remains one of the fastest growth markets for the company and is currently WPP’s third largest market with revenues of $1.3 billion and 14,500 people (including associates).
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
