CORDIANT, THE advertising group has sold the Financial Dynamics public relations firm to the venture capital group Advent for pounds 26m. Financial Dynamics recorded profits of pounds 3.7m in theyear to December 2002 on a turnover of pounds 34m. The disposal was one of the deals approved at an EGM of Cordiant’s shareholders a week ago. Cordiant is in the throes of being taken over byadvertising giant WPP. However, Active Value has built up a 27 per cent stake in the company which could sink the deal and push Cordiant into administration.
Cordiant sells PR firm for pounds 26m
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