• Nna/kyodo

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Japanese advertising and marketing giant Hakuhodo DY Holdings Inc. plans to purchase major Taiwanese ad agency Growww Media Co. in a bid to bolster its business in the territory.

Hakuhodo DY will inject a maximum of 1.85 billion New Taiwan dollars (¥6.7 billion; $60 million) through its subsidiary to acquire a 50 percent to 78.81 percent stake in the company between Wednesday and April 15. Then the firm will offer cash consideration for the remaining stake to wholly own the Taiwanese firm, according to a Hakuhodo DY statement released Tuesday.

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