SÃO PAULO — CEO Paulo Andreoli has bought back a majority stake in the agency he founded, MSL Andreoli, after a 20-year partnership with Publicis Groupe.

Andreoli, who serves as MSL’s LatAm chair, now has full control of the PR and digital influence agency launched in 1993 as Paulo Andreoli — Corporate Affairs.

The deal will not affect MSL Andreoli’s current clients or employees, who will move to a new agency led by Andreoli. That agency is currently in the process of rebranding and restructuring, which will include a new identity and organizational structure.

The firm will continue to have access to Publicis' 18 offices throughout Latin America that have made up the agency's network in the region for over 20 years and will continue to be associated with Andreoli and serve MSL's global network.

"Publicis Groupe is undergoing important transformations globally. Based on a new strategic business direction, we have agreed to sell our stake in MSL Andreoli in order to focus our efforts on creativity, data, technology and media,” said Gabriela Onofre, CEO of Publicis Groupe Brasil. “Paulo has built and consolidated solid relationships over more than two decades of partnership, which will not be ended by this deal. The clients of the new agency will continue to benefit from the expertise of the Publicis Groupe agencies.”