3rd Oct 2011 07:00
UBM plc acquires 70% stake in Index Fairs, India's largest interiors tradeshows
UBM plc today announces it has acquired a 70% equity stake in Index Furniture Private Limited from its private owners on behalf of UBM Asia (www.ubmasia.com).
Comprising three annual tradeshows held in Mumbai, Bengaluru and Hyderabad, the Index Fairs (www.indexfairs.com) are India's largest and best-recognised annual furniture and interiors exhibitions, attracting exhibitors of home furniture, office furniture, contract furniture, kitchen, lighting, hardware, intermediates and other interiors products.
In 2010 the Index Fairs generated revenues of approximately $1.5m. The value of the business's gross assets at 31 March 2011 was £0.2m. The acquisition is expected to exceed UBM's cost of capital criterion in its first full year of ownership.
Jime Essink, President and Chief Executive Officer of UBM Asia said:
"The acquisition of a majority stake in the Index Fairs immediately puts us in a leading position in this growing market and provides a significant addition to UBM's product portfolio in India. We see many opportunities to build mutually beneficial links between the Index Fairs and UBM's other furniture tradeshows elsewhere in the world. We also see opportunities to launch new shows in other Indian regions."
- Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Kate Postans Head of Investor Relations Email [email protected] Direct telephone +44 20 7921 5023 Notes to Editors1. About UBM plc
UBM plc is a leading global business media company. We inform markets and bring the world's buyers and sellers together at events, online, in print and provide them with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists around the world. Our 6,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com; follow us on Twitter at @UBM_plc to get the latest UBM news.
2. About UBM Asia
UBM Asia operates in 17 market sectors with headquarters in Hong Kong and subsidiary companies across Asia, including UBM China Shanghai, Hangzhou, Guangzhou and Beijing. We have over 200 products including trade fairs, conferences, trade publications, B2B/B2C portals and virtual event services. As Asia's leading exhibition organiser and the biggest commercial organiser in the two fastest growing markets in Asia: China and India, we stage the leading events of their kind across Asia. Our 150 events, 34 publications and 14 vertical portals serve a 1,000,000 plus quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world with high value face-to-face business-matching events, quality and instant news on market and industry trends and round-the-clock online trading networks and sourcing platforms. We have 1,000 staff in 20 major cities across Asia, stretching from Japan to Turkey.
For more information, go to www.ubmasia.com
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