News this week: International B2B media company, Tarsus Group, announced the acquisition of
51% of Indonesia exhibition organiser PT Infrastructure Asia (PTIA) from PT
Event Pro International for a total consideration of US$2.9 million. Specialist
acquisition brokers, Mayfield Media
Strategies, acted as the broker in this deal.
Tarsus will pay an initial cash consideration on completion
of US$500,000 for the 51% share, with estimated total deferred payments of
US$2.4 million in aggregate during 2014 and 2015. The two companies have
conditional put and call options of the remaining 49% share in PTIA. The total
consideration for 100% of PITA is capped at US$23 million.
Douglas Emslie, Tarsus Group Managing Director, said: “PTIA
is an excellent fit with our strategic objective of quickening the pace of our
earnings by investing in fast growth markets… The Indonesian market is
undergoing a period of rapid change, with a marked shift away from its
historical emphasis on consumer events towards B2B exhibitions. As a result we
would expect PTIA to experience strong organic growth supplemented by bolt-on
acquisitions.”
The acquisition is expected to complete in the first quarter
of 2013.
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