Dentsu Aegis Network issued the following clarification on the article titled ‘Threeshul BTL and mangham gaxiola mcgarrybowen Singapore announce joint venture’ published in Daily FT yesterday:
Dentsu Aegis Network acquired control of the Grant Advertising Group in March, the largest independent creative agency and the pioneer of advertising in Sri Lanka. The Grant Group is our sole representative in the market.
As part of that acquisition Grant Advertising Ltd. became Dentsu Grant Ltd., the Grant Group Agencies became Dentsu Aegis Network Ltd., and Grant Media joined our global media network brand, Carat.
These two entities are Dentsu Aegis Network’s only advertising, digital, performance marketing, media and OOH partners in Sri Lanka, and will be operating other Dentsu Aegis Network brands in addition to Dentsu and Carat, including Vizeum, iProspect, Isobar and Posterscope in that market.
manghamgaxiola mcgarrybowen, a Singapore-based creative advertising agency in which Dentsu Aegis Network holds a minority stake, has independently agreed to work with Threeshul BTL Ltd. for creative advertising services.
Dentsu Aegis Network has made no investment in any joint venture or otherwise in Sri Lanka except with the Grant Group, and there is no agreement between Threeshul BTL Ltd. and Dentsu Aegis Network or any of its global brands including Vizeum and Isobar.