LBG Media has announced the acquisition of 75% of Uncovered Holdings, a UK-based social media creative agency, for an initial cash consideration of £26.8m funded through £10m of existing cash and £16.8m drawn on a new £35m revolving credit facility provided by HSBC. Uncovered specialises in end-to-end design, production and management of social media strategies for major brands. Unusually the minority retains no economic rights (a lack of minority deduction makes the deal particularly earnings e ....
