News this week: International exhibition organiser, ITE Group plc, has expanded its
operations in Southeast Asia with the acquisition of a 50% stake in Indonesia-based
organiser, PT Debindo Unggul Buana Makmur (DUBM), for an
undisclosed amount. The completion of the acquisition is subject to the
approval of the Indonesian Investment Coordinating Board – BKPM. Exhibition specialist
brokers, Mayfield Media Strategies, represented DUBM in the deal.
According to ITE, the original shareholders of DUBM will continue to
manage the business. DUBM are the owners of the Indobuildtech Expo portfolio, which is
held in Surabaya, Jakarta, Makassar, Bandung, and Bali. Indobuildtech
Expo will join ITE’s Build&Interiors
portfolio, which includes shows in Moscow, Istanbul, Almaty, and Mumbai. The Jakarta
edition, the largest of the Indobuildtech Expo series, is held annually and
covers approximately 12,000 m2 of net space and attracts over 33,000
visitors.
ITE’s Chief Executive Russell Taylor commented, “This acquisition
delivers on two strategic fronts for us. It further strengthens our market
position in the building & interiors sector which is our largest single
vertical market and one in which we have considerable depth of knowledge and
expertise. Secondly, it adds to our presence in the region’s largest market –
Indonesia. It is a country with a strong economy and immense potential.”
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