News this week: International exhibition organiser, ITE Group plc, announced that
the group had acquired 75% of the Malaysian company, Trade Link ITE Sdn Bhd, on
behalf of ITE’s wholly-owned subsidiary, International Trade and Exhibitions
(JV) Ltd. The remaining 25% stake is held by Albert Lai, CEO of Trade Link. ITE
agreed to pay £4 million (US$6.33 million) for its stake in the exhibition
organiser.
According to ITE, Trade Link’s revenues in FY2013 are
expected to reach £2 million (US$3.2 million).
ITE’s Chief Executive Russell Taylor commented, “This
acquisition is a strategic move for ITE into the South East Asian exhibition
market. Trade Link operates some of South East Asia’s key events in our
strongest sectors which are expected to realise good growth in the future.”
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