Interpublic Group takes control of its Russian affiliates in deal

• Interpublic Group (IPG -0.5%) has taken majority control of its Russian affiliates in a transaction with ADV, its long-term partner in Russia.
• Terms weren't disclosed. The move cements IPG's direct control of its affiliates (of McCann, Mullen Lowe and FCB) after 20 years of operations.
• "Russia remains a significant market for many of our largest global clients, as well as home to a growing number of local and regional clients," said IPG CEO Michael Roth.
• ADV will retain a minority stake in the creative networks and continue to work as IPG's affiliate partner for other local operations.
• IPG's on-the-ground team (its CEO, COO and chief creative officer at IPG Russia) will take over supervision of the operations.