Good for Business, Lithuania, Markets and Companies, Mergers and take-overs

Both the merger deal and the sale deal were signed on Monday, completing a year-long process of forming the new group and obtaining the necessary regulatory approvals, Publicum said. 

The value of the transaction is not being disclosed. 

Alberto Canteli, CEO for Northern, Central and Eastern Europe at Havas Group, said the investment in the Baltic communications group will strengthen Havas' entire network. 

"This landmark deal will help achieve the best results in the region," he said in a press release.

Publicum CEO Ricardas Jarmalavicius said the deal with Havas signals confidence in the prospects of the Baltic communications market in general. 

The new Havas Group in the Baltics comprises 20 public relations, media planning, advertising, digital marketing and other agencies with a total staff of over 250 professionals and more than 50 mln euros in combined revenue in 2018. 

Founded in Paris back in 1835, Havas Group last year posed 2.3 bn euros in revenue. The group has operations in over 100 countries and employs a wotrjfoce of more than 20,000 people.