M&C Saatchi plc (AIM:SAA) announced the divestment of certain overseas subsidiaries in line with its strategy to simplify its operating structure and improve efficiency across the group. M&C Saatchi AB ("M&C Saatchi Sweden") and M&C Saatchi Spencer Hong Kong Limited ("M&C Saatchi Spencer") predominately form part of the Company's Advertising division and are being acquired by the existing local leadership teams. The Company is also in negotiations regarding the divestment of M&C Saatchi Holdings Asia Pte. Limited.

The Company has agreed to dispose of its entire shareholding in M&C Saatchi Spencer for nil consideration and has reduced its interest in M&C Saatchi Sweden from 70% to 30% with the management team, including Max Bon de Veire, Linda Elers and Daniel Sundin, directors of M&C Saatchi Sweden, acquiring the Company's interest for nominal consideration.