Tarsus completes strategic acquisition in Dubai market
12 November 2007
Tarsus, the international business-to-business media group with interests in exhibitions, conferences, publishing and on-line media, has acquired The WR Kern Organisation Ltd, a UK based holding company of Fairs and Exhibitions (1992) Ltd (F&E), its sole operating company.
F&E is one of the largest exhibition organisers in Dubai with eight events covering three principal industry sectors:- aviation, printing & packaging and education.
Tarsus will pay an initial cash consideration of US$23.5 million (approximately £11.3 million). A further sum of up to US$11.5 million (approximately £5.5 million) may be payable in cash based on the future performance of the business over the period to 30 April 2009.
Also today, Tarsus announced the formation of a new joint venture in France.
Back in September 2007 the company acquired SEPIC, which is the owner and operator of the Midec and Mod'Amont exhibitions in Paris. Mod'Amont is the leading international exhibition for clothing accessories and is co-located with the pre-eminent international textile exhibition Premiere Vision.
Tarsus and Premiere Vision are forming a joint venture to run Mod'Amont, which will see Premiere Vision acquire 49% of the exhibition for €3.5million (£2.5 million).
The joint venture has also entered into an agreement to share marketing and operating services at their co-located events and it is planned to replicate the Mod'Amont exhibition alongside Premiere Vision internationally.
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