ITE acquires another exhibition firm
Emerging markets exhibitions group ITE has revealed that its wholly-owned subsidiary ITE International Holdings has acquired smaller peer Beautex from a firm in Cyprus.
Emerging markets exhibitions group ITE has revealed that its wholly-owned subsidiary ITE International Holdings has acquired smaller peer Beautex from a firm in Cyprus.
Beautex runs two exhibitions each year, Intercharm and Beautyexpo, two trade exhibitions for the professional beauty, cosmetic, and aesthetic medicine industry in the Ukraine.
The firm has no assets although the exhibitions are expected to generate revenues of €2.4m in the year ending September 30th 2012 and are expected to be earnings enhancing in ITE's 2012 financial year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ITE's Chief Executive Officer, Russell Taylor, said: "The addition of these two exhibitions to ITE's Ukrainian business is consistent with our strategy of building market leading positions in core markets and sectors and will complement ITE's existing activities in Kiev. These events have strong market positions in Ukraine and will benefit from access to ITE's expertise and international reach."
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best houses for sale with libraries
This week: the best houses for sale with libraries – from a five-storey Georgian townhouse in Bloomsbury, London, to a 15th-century property with a library in a medieval tower in Lozère, France
By Natasha Langan Published
-
Investors pull money from UK equities as government warns of “painful” Budget
The government’s post-election honeymoon period has been short-lived, and investors are shying away from UK equities as a result
By Katie Williams Published