Saatchis plan to float ad agency

A M&C Saatchi advertisement for a popular lager

Advertising gurus Maurice and Charles Saatchi are planning to float their agency for £75m($135.7m).

The brothers, who have come up with some of the most memorable ads of recent times, propose to raise £10m to expand M&C Saatchi into Europe.

They formed the company in 1995 after leaving their former firm Saatchi & Saatchi following a shareholder revolt.

M&C Saatchi's clients include Fosters, British Airways, Dixons, Becks, the Royal Bank of Scotland, and Lucozade.

Its current advertisement for Fosters - based around the slogan "Don't lose your head" - feature a man having his head bitten off by a crocodile during a bungee-jump.

"Clients are looking increasingly to be serviced across a broader range of markets," said M&C Saatchi chief executive David Kershaw.

"A flotation will enable us to accelerate expansion across Europe whilst maintaining the integrity of our brand and our unique business culture."

Stake retained

M&C Saatchi, which claims its number one principal is "brutal simplicity of thought", currently employs 300 in the UK and more than 600 worldwide.

The Saatchi brothers and their three partners in M&C Saatchi would retain a "significant majority" following the float, the company said.

The proposed valuation figure of £75m is said to be modest compared to the vast sums Saatchi & Saatchi spent in its rapid expansion before 1995 - something that ultimately displeased investors and saw Maurice and Charles leave the firm.

Despite coming up with one of the most famous advertisements of all time - their "Labour Isn't Working" for the Conservative Party in 1979, Maurice and Charles Saatchi are today also well-known for their non-advertising lives.

Charles, who is married to celebrity chef Nigella Lawson, is a prominent collector of modern art and owner of the Saatchi Gallery in County Hall opposite the Houses of Parliament.

Maurice, or Lord Saatchi, is co-chairman of the Conservative Party.