UBM news releases
UBM plc acquires 70% stake in Index Fairs, India’s largest interiors tradeshows
Oct 3, 2011
UBM plc today announces it has acquired a 70% equity stake in Index Furniture Private Limited from its private owners on behalf of UBM Asia (www.ubmasia.com).
Comprising three annual tradeshows held in Mumbai, Bengaluru and Hyderabad, the Index Fairs (www.indexfairs.com) are India’s largest and best-recognised annual furniture and interiors exhibitions, attracting exhibitors of home furniture, office furniture, contract furniture, kitchen, lighting, hardware, intermediates and other interiors products.
In 2010 the Index Fairs generated revenues of approximately $1.5m. The value of the business’s gross assets at 31 March 2011 was £0.2m. The acquisition is expected to exceed UBM's cost of capital criterion in its first full year of ownership.
Jime Essink, President and Chief Executive Officer of UBM Asia said:
“The acquisition of a majority stake in the Index Fairs immediately puts us in a leading position in this growing market and provides a significant addition to UBM’s product portfolio in India. We see many opportunities to build mutually beneficial links between the Index Fairs and UBM’s other furniture tradeshows elsewhere in the world. We also see opportunities to launch new shows in other Indian regions.”
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