Wire & Plastic Products is reportedly selling its 75% stake in sports marketing agency Chime . Advertising giant WPP is selling its stake in the sports marketing agency Chime to help cut its hefty debt pile. US buyout firm The Farm , which owns 75% of the company is expected to buy the ad giant’s stake for around £50m . The potential deal is part of an overhaul designed to simplify the business and pay off its debt which stood at £ 4bn in December . WPP recently sold Wire & Plastic Products to its management team, and is also selling its 75% stake in Providence Equity Partners .
Wire & Plastic Products is reportedly selling its 75% stake in sports marketing agency Chime . US buyout firm The Farm , which owns 75% of the company is expected to buy the ad giant’s stake for around £50m . The potential deal is part of an overhaul designed to simplify the business and pay off its debt which stood at £ 4bn in December . WPP recently sold Wire & Plastic Products to its management team, and is also selling its 75% stake in Providence Equity Partners .