International trade exhibitions and conferences group ITE Group, is acquiring 50% of the shares in PT Debindo Unggul Buana Makmur (“DUBM”) from a group of three private individuals. The acquisition is subject to the approval of the Indonesian Investment Coordinating Board. This is anticipated to be received within two months.
The Sellers, who are the original founders of the business, will retain the remaining 50% of the shares and will continue to manage the business.
DUBM owns the Indobuildtech exhibitions which serve the building and construction industries in Indonesia and the surrounding region. The largest event is held in Jakarta in June each year and is the leading event of its kind in Indonesia. The 2013 exhibition was the 11th edition which sold approximately 12,000m2 net and was attended by over 33,000 professional visitors. The upcoming event opens in the Jakarta Convention Centre on 11th June 2014. In addition, satellite events are held in Surabaya, Bandung, Makassar and Bali.
Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said: “Indobuildtech is the leading building exhibition in Indonesia. The addition of this exhibition to ITE’s Build portfolio is consistent with our strategy of building market leading positions in core markets and sectors. The building industry is a growth sector in developing markets and with this complementary acquisition, ITE will leverage its international exhibition expertise to develop further its position and benefit from a strengthened portfolio within this sector.”
- ITE Group – Annual Financial Report December 27, 2013
- ITE revenues up 12% following a year of Asian acquisitions Posted on December 5, 2013
- ITE establishes a presence in China with the creation of Sinostar ITE Ltd Posted on November 18, 2013
- ITE Group acquires Platform Exhibitions in Turkey Posted on October 15, 2013
- ITE Pre-close trading update for the year ending 30 September 2013 Posted on October 1, 2013
- ITE Group plc – Interim Management Statement for the period April to July 2013 Posted on July 16, 2013
- ITE Group – results for the 6 months to March 2013 Posted on May 22, 2013
- ITE Group acquires Trade Link ITE Posted on February 4, 2013
- ITE Group acquires a minority stake in ABEC in India Posted on December 4, 2012
- ITE Group acquires Krasnodar Expo Posted on March 3, 2011
- ITE Group acquires Russian exhibition organiser, MVK for €33 million December 20, 2010
- ITE acquires two Ukrainian exhibitions Posted on April 16, 2012