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GfK and IRI Demerge European Ventures
The GfK Group and Information Resources Inc. (IRI) have agreed to disentangle themselves from two joint enterprises in Europe. GfK will transfer its shares in the German and Dutch subsidiaries of IRI to the parent company and at the same time buy out IRI's share in GfK Panelservices Benelux.
Following a Management Board resolution to focus on its core competence in FMCG market research - in particular panel research involving end user households - GfK has gradually reduced its involvement with IRI over the past few years. Prior to the latest agreement, GfK held 19.9% of the shares in Information Resources GfK in the Netherlands and 17.7% in the German company. Both are now wholly owned by the US parent. Meanwhile, GfK assumed 100% ownership of GfK Panelservices Benelux by purchasing the last 7.6%.
Wilhelm R. Wessels, the GfK Management Board member responsible for the Consumer Tracking division, says the agreement 'enables us to implement our strategic aim of focusing 100 per cent on our core competence... Clients are assured that the service they receive from GfK and Information Resources will not be affected in any way'.
GfK is online at www.gfk.com and IRI at www.infores.com
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