The Perfect Relations – MSLGROUP deal is on hold at the moment. Bobby Kewalramani, one of the two founding partners, Perfect Relations said that, “We still don’t have a final confirmation yet, but the deal is on hold.”
The deal was expected to be finalised and announced by the 15th of December, 2014. The reasons for the deal being put on hold are currently unclear. Market sources indicated that while the due diligence had been done, the recent exit of senior staff, including Perfect Relations CEO, Valerie Pinto, could have been one of the reasons. However, the exit of senior staff has been known for quite a while now.
Sources at MSLGROUP said that there is no deal with Perfect Relations, but refused further comment on whether there were negotiations in place earlier.
Perfect Relations, according to market sources, still has offers from Fleishman – Hillard, WPP, Inter Public Group and a verbal offer from Dentsu.
Perfect Relations, along with Adfactors, is one of the largest Indian owned PR agencies in India, set up by Bobby Kewalramani and former Business India journalist Dilip Cherian.