28th Mar 2006 07:01
Euromoney Institutional InvestorPLC28 March 2006 P R E S S R E L E A S E Euromoney Institutional Investor to acquire leading Singapore events business, Asia Business Forum Euromoney Institutional Investor PLC ("Euromoney"), the internationalpublishing, events and data business, has today signed an agreement to acquire47.5% of Asia Business Forum ("ABF"), a leading conference organiser andtraining business for the Asian region. ABF produces more than 150 events a year from its three offices in Singapore,Kuala Lumpur and Bangkok. The events attract more than 1500 speakers and nearly5000 executives across Asia. The price for the initial 47.5% tranche is £3.0 million. In addition, Euromoneyhas an option to acquire a further 42.5% in March 2007 and the final 10% after2009. These further payments are dependent on the audited profits of ABF for theyears to 31 December 2006, and 2009 or later, respectively. The maximumconsideration payable for 100% of ABF is capped at £17.6 million. Theacquisition will be financed from Euromoney's existing borrowing facility. Itis expected to be earnings-enhancing for Euromoney for its financial year ending30 September 2006. ABF was launched in Singapore in 1992 by Norman Wright and Linda Yeap. Itsevents cover a range of subjects including finance, law, energy,pharmaceuticals, telecoms and aviation. Norman Wright will stay with ABF until the end of 2006 as a director andconsultant. Linda Yeap will be managing director of ABF until at least the endof 2009. "We are delighted to be investing in this high-quality events business in one ofthe fastest growing parts of the world," said Euromoney Chairman Padraic Fallon."Following the success of our investment in CEIC, the Hong Kong-basedmacroeconomic data business, a year ago, we have been looking for furtheropportunities in Asia. ABF enables us to expand our operations more rapidly inthis region, and we welcome ABF to the Euromoney Group." Norman Wright, Chairman of ABF, added: "As the leading Asia-owned producer ofbusiness conferences and training in the region, ABF is delighted to be invitedinto the Euromoney family. I believe that the combined interests of Euromoneyand ABF will create one of Asia's foremost authorities for business andprofessional information." Tony Shale, CEO of Euromoney Institutional Investor Asia, commented: "ABF is amarket leader in Singapore, Malaysia and Thailand with an excellent brand andreputation. We are delighted to be working with its teams in what has alreadyproven to be a great meeting of minds." Ends Note to editors: About Euromoney Institutional Investor PLC Euromoney Institutional Investor PLC is listed on the London Stock Exchange andis a member of FTSE 250 share index. It is a leading internationalbusiness-to-business media group focused primarily on the international financesector. It publishes more than 100 magazines, newsletters and journals,including Euromoney, Institutional Investor and Asiamoney. It also runs anextensive portfolio of conferences, seminars and training courses, and is aleading provider of electronic information and data on international finance andemerging markets. For further information please contact: Euromoney Institutional Investor PLC: Padraic Fallon, Chairman, Euromoney - [email protected] - 00 852 29128008 (or 00 44 20 7779 8556) Colin Jones, Finance Director, Euromoney - [email protected] - 00 852 2912 8008 (or 00 44 20 7779 8556) Christopher Fordham, Director, Euromoney - [email protected] - 00 44 784105 3160 The Company Agency: Alex Money - [email protected] - 00 44 20 7670 7451 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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