ITE Group plc, the emerging and developing markets exhibitions specialist, today announces the acquisition by its wholly owned Turkish subsidiary, E Uluslararası Fuar Tanıtım Hizmetleri A.Ş(EUF), of 100% of the shares of Platform Exhibitions Inc from Mahmut and Ayse Er.
The consideration will be financed out of the Group’s existing balance sheet and the acquisition is expected to be earnings enhancing in the first full year of ownership.
Platform owns the Beauty Eurasia exhibition which serves the beauty, personal care and cosmetics industries in Turkey and the surrounding region. Beauty Eurasia is held in Istanbul in June each year and is the leading event of its kind in Turkey. The 2013 exhibition was the 9th edition of this successful event which sold more than 8,000m2 net and was attended by over 21,000 professional visitors.
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