ADVERTISING

Cordiant to Sell Minneapolis Agency: The advertising group formerly called Saatchi & Saatchi Co. said it will sell Campbell Mithun Esty Inc. to the Interpublic Group of Cos. for $40 million. CME’s clients include Borden pastas, Andersen Corp. windows, ConAgra Healthy Choice foods and Dow household sprays and cleansers. Cordiant said the agency no longer fits with its strategy, which is based on ad agencies Bates Worldwide and Saatchi & Saatchi Advertising Worldwide. Cordiant said proceeds of the sale will be used to reduce the company’s bank debt of about $189 million. It said the recent departures of founders Maurice and Charles Saatchi have not put the agency in a position of needing cash.