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Saudi Arabian retailer BinDawood Holding has confirmed that it’s trying to purchase a majority stake in Paris-based advertising company Ykone, a subsidiary of France’s TF1 Group.
The operator of hypermarkets and supermarkets has already entered into unique negotiations for the potential acquisition by its wholly owned subsidiary Future Expertise Retail (FTR), the corporate mentioned in a press release.
TF1 Group is a French chief in content material manufacturing, publishing and distribution. Ykone operates as a global influencer advertising company with a proprietary expertise providing targeted on journey, magnificence, trend and luxurious manufacturers.
The company has presence in Europe, Asia and the Center East, offering companies on technique, expertise administration, content material manufacturing and monitoring to greater than 200 manufacturers worldwide.
The potential deal can be undertaken by a French subsidiary firm to be integrated by FTR, BinDawood Holding mentioned.
BinDawood has a portfolio of 78 shops, which embrace 52 hypermarkets and 26 supermarkets unfold throughout the dominion.
(Reporting by Cleofe Maceda; modifying by Seban Scaria )
cleofe.maceda@lseg.com
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