Change in ownership pattern at OAP!

Its official that Outdoor Advertising Professionals (I) Pvt. Ltd. popularly known as OAP will not have Rediffusion DY&R as its strategic investor any further. OAP confirms that the Rediffusion DY&R has sold its stake to Selvel Advertising Pvt. Ltd., and has exited from this Joint Venture.

In 2002, Rediffusion DY&R became the third partner after Selvel Advertising Pvt. Ltd. and Abhijit Sengupta. OAP since then became one of the leading outdoor media specialists in the country.

Abhijit Sengupta, who also head the organization says, "There has been a lot of contribution from Rediffusion in what OAP is today as an organization, that was built from scratch. We had lot of learning and sharing. But then focus and priorities change, and this is a result of that. They are exiting as equity holders, but the fact is OAP is still working with Rediffusion DY&R.

There won't be any change whatsoever in our day to day operation, because for the last 8 years OAP has been scouting, developing, and managing the entire client protfolio on its own. Since we were and are absolutely independent in operation and infrastructure, this change of shareholding pattern will have no bearing on our functioning and business operations. Rather one positive outcome would be that it will now on give us the opportunity to pitch-in for those accounts where we had restritced entry as they were competitng with RYR's portfolio. We can also restart the dialogue with those advertising and media agencies who were in need of our services, which we kept in abyeance thus far."

Noomi Mehta, Chairman of Selvel Advertising Pvt. Ltd. says, "With the asisstance of Rediffusion, OAP managed to introduce a sound and professional system that is high on integrity and ethical values. We in Selvel are very happy with the outcome of our association in the form of OAP. But from time to time the needs of each organisation change and different priorities emerge. Rediffusion realised this and wanted to do the right thing by exiting OAP and quit as equity partners. But I am sure the tremendous relationship we have built will survive and we will keep working together.

OAP has a dedicated team of professionals who are independently running the organisation. With S.R. Batliboi & Associates as auditors and advisors, I as an investor am happy to see the progression of OAP."

OAP is an agency on record for outdoor media planning and buying for many leading advertisers in India. Primarily an outdoor planning and buying company it has now also ventured into ambient and alterate outdoor and environmental branding like retail design, shopper marketing and navigation sign.