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Mindshare achieves 28% black ownership

8 Dec 2004

MindShare South Africa has achieved a substantial 28% black-ownership following the recent announcement that J Walter Thompson South Africa (JWT) has sold 30% of its local business to Nail executive director, Kenny Setzin.

The 28% BEE equity percentage is as a result of MindShare's ownership structure. It is 50% owned by Ogilvy South Africa, itself 26% black owned and 50% owned by JWT (now 30% black empowered).

MindShare managing director, Luisa Belter, says the deal is a major step in the right direction for MindShare as it strengthens the media company's position in a changing business environment. "In addition, our equity status will allow us to gain entry into previously inaccessible sectors such as parastatals and government in general," she says.