26th Nov 2013 11:02
LONDON (Alliance News) - Tarsus Group PLC said Tuesday it has agreed to acquire a 50% interest in a firm that owns two Mexican exhibitions from E.J. Krause & Associates to establish a joint venture with EJK.
EJK owns two major exhibitions in Mexico, Plastimagen and Expo Manufactura.
The joint venture will give Tarsus a hub in the Mexican exhibition market, with the deal expected to contribute to earnings next year. EJK will continue to manage the events after completion of the acquisition. No financial details on the agreement were disclosed.
The deal will also provide Tarsus with a platform to launch new exhibitions in Mexico, allowing the firm to draw on its existing brands, it said.
Plastimagen is a 17,400 net sqm exhibition for the plastics industry, focused on processing and ancillary equipment and attracting engineering and production professionals. It is on an 18 month cycle with the next edition schedules to be held in November 2014. Expo Manufactura is a 4,300 net sqm metalworking and manufacturing exhibition, featuring machine tools, assembly technology, fabricating and software. The annual show is next due to be held in March 2014.
Concurrently, Tarsus has agreed to collaborate with EJK by launching replications of existing EJK brands into territories in which Tarsus holds a suitable launch platform. This will begin in Indonesia where the Group has agreed with EJK to launch an edition of EXPO COMM in Jakarta, an ICT exhibition with a global schedule of events in Latin America, Europe, and Asia. It covers telecommunications, broadband, wireless 3G/4G, unified communications and network infrastructure. The first event is scheduled to be held in November 2014.
Douglas Emslie, Tarsus Group Managing Director, said, "This agreement with EJ Krause enables Tarsus to acquire a stake in two leading events in Mexico... The joint venture fits our aim to quicken the pace of our earnings by investing in quality assets in high growth markets.
Shares in Tarsus were trading down 1% at 248 pence per share Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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