MAM
WPP acquires majority stake Belgian digital healthcare agency
MUMBAI: WPP’s Wunderman Health has acquired a majority stake in ABS MM NV (ABS Creative) in Belgium.
Founded in 1999, based in Brussels and employing 24 people, ABS Creative is a digital marketing communications agency with solid expertise in medical content marketing. ABS Creative has developed strong relationships with healthcare companies such as Abbott, AstraZeneca, Johnson & Johnson, MSD, GSK, Novartis, Boehringer Ingelheim and Bristol-Myers Squibb.
This acquisition further strengthens Wunderman Health’s healthcare capabilities in Brussels, a key location in European health affairs.
ABS Creative, led by CEO Michael Verschueren will operate as an integrated centre of excellence within Wunderman Health.
ABS Creative’s consolidated revenues for the year ended 31 December, 2014 were approximately €2.8 million, with gross assets of approximately €2.6 million as at the same date.
This acquisition continues WPP’s strategy of investing in fast growing and important markets and sectors and strengthening its digital capabilities. WPP’s digital revenues were $6.9 billion in 2014, representing 36 per cent of the Group’s total revenues of $19 billion. WPP has set a target of 40-45 per cent of revenue to be derived from digital in the next five years. In Belgium, WPP companies (including associates) generate revenues of around $130 million.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
