ITE Group plc has sold TradeLink ITE Sdn. Bhd., the owner of Metaltech, the metalworking exhibition in Malaysia, to UBMMG Holdings Sdn. Bhd., a subsidiary of UBM plc for a total cash on completion consideration of MYR 23 million (£4.2m).
In the year to 30 September 2017, Tradelink ITE had gross assets of MYR 29.4m (£5.4m), reported a turnover of MYR 12.4m (£2.3m) and, due to non-recurring costs, made a loss before tax of MYR 1.7m (£0.3m).
Mark Shashoua, CEO, ITE Group plc said: “For the Metaltech team, this represents a logical and exciting development – their new parent has an existing business in Malaysia and can ensure the investment and continued success of the exhibition. I would like to thank our team in Malaysia for their contribution to ITE over the years and wish them well for the future.”
ITE acquired TradeLink in 2013.
UK, London & Malaysia
- A Fusion Deal: Sale of 50.1% stake in Global Pacific & Partners’ worldwide conference portfolio to ITE Group plc Posted on March 13, 2015
- ITE Group acquires transportation and logistics exhibition business Breakbulk Posted on December 23, 2014
- ITE acquires Eurasia Rail exhibition in Turkey December 2, 2014
- ITE acquires 50% of DUBM in Indonesia Posted on June 11, 2014
- 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
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