According to Omnicom, the deal was closed on Friday in Sao Paulo. The Onicom American Giant acquired the last major national campaign and advertisement business in the ad market of Brazil. According to Forbes, Omnicom American Giant is the largest communication conglomerate in the world. The transaction completion, anticipated by Lauro Jardim, came to a close after six hours of negotiation. The company was sold for R $1 billion. The advertisement industry is one of the largest industries in Brazil. According to the proceeds of the negotiations, Joao Augusto and Nizan Guanaes were to follow the front group. The Omnicom should have until Monday to announce the acquisition because it is one of the biggest shareholders in the New York Stock Exchange.
The two companies came at an agreement. According to the reliable source, it was signed in Sao Paulo offices. Cade has received a copy of the agreement form. Cade is the body that regulates business competition in the country. Guanaes and Valente created the company in 2002 with one primary goal of becoming the biggest advertisement company in the country. ABC Company has its headquarters in Brazil. It has over 14 companies that work together in in the public relations and advertisement industries. ABC is the seventh-largest company in the country which owns agencies like Africa Ambev, Procter & Gamble, Mitsubishi & Itau.
According to the provided list, the company also owns DM9, Pereira & O’Dell, and Loducca companies based in Sao Paula. For the longest period, the group has acquired profits that exceed R $1 billion in a year. According to Forbes, this is the only company in Brazil that is among the 20 largest corporations in the world. When ABC Group was founded, its investment partner was Ithaca Group. In 2003, Kinea Investment Company joined the group. For many months now, rumors about its acquisition have spread far and wide.