BI buys up shares in Mint's Dubai and Singapore subsidiaries

Acquisition is part of the agency's global expansion plan

BI Worldwide non-executive chairman David Hackett
BI Worldwide non-executive chairman David Hackett

BI has acquired the remaining shares in the Mint Organization's Dubai and Singapore subsidiaries.

The agency acquired a 30% share in Mint in October 2006 and has accelerated its initial plan to buy the remaining shares over a five-year period.

Mint trebled its turnover last year, prior to the recession, and BI says its profits are continuing to grow.

BI managing director Richard Bandell said the Mint acquisition was key to the agency's plans to expand geographically, reduce dependency on existing markets, and take advantage of growing business potential in Australia, the Middle East and Australia.

Following the acquisition of the remaining shares in Dubai, BI non-executive chairman David Hackett will reduce his focus on - and time spent in - the destination.

He will retain his role as BI Worldwide non-executive chairman and BI plans to recruit a director in Dubai to provide commercial leadership of the business.

Reporting responsibility for Dubai will pass to BI commercial director Stuart Warwick.

BI is also a 30% shareholder in Mint Australia and plans to acquire the remaining shares in 2011.



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