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Bangalore-based MAA may dilute 24% stake to PE players

The Rs 250-crore integrated communications group MAA Group Holdings plans to tap private equity funding for scaling up the company’s growth plans. The company is willing to dilute a maximum of 24% of equity in either the MAA Group Holdings or the advertising company, chairman Bunty Peerbhoy told ET. The group’s advertising agency MAA Bozell has been rebranded as MAA Communications after the buyback of its 29% stake in the joint venture with Bozell Worldwide, a part of the Interpublic group, since January 2008. The Bangalore-headquartered MAA Communications works with clients such as Tata Coffee, Hero Honda, Biocon and Wockhardt Hospitals. […]