McCann Erickson is buying the 20% stake from Eyal Naor, who is leaving.
McCann Erickson will increase its stake in sales promotions agency BTL Momentum to 60%. The acquisition is being carried out through McCann Erickson's sales promotion arm, Momentum International Marketing Management.
As first reported by ''Globes'', McCann Erickson acquired 40% of BTL early this year. As a result of the acquisition, BTL became the Israeli representative of Momentum International.
McCann Erickson bought another 20% of BTL from Eyal Naor, a partner in the agency, who is leaving. With the completion of the sale, BTL will be owned by McCann Erickson and BTL Momentum CEO Merav Oren. 10% of BTL's shares have been allocated as options to Carmit Homesh, who joined the agency a few months ago.
Published by Israel's Business Arena on 20 November 2001