NAIROBI (Reuters) - Kenyan marketing company WPP Scangroup (SCAN.NR) said on Friday its board had approved the sale of some of its assets in East and West Africa, sending its shares up 23%.
The company said it expected a net 5 billion shillings ($48.4 million) from the sale, with 40% of that going to shareholders in a special dividend.
The assets to be sold include its shares in Millward Brown East Africa Ltd, Millward Brown Nigeria Ltd and Millward Brown West Africa Ltd, the group said in a public notice.
The transaction needs shareholder and regulatory approvals, it said.
Reporting by Duncan Miriri; editing by Susan Fenton and Jason Neely