As an integrated Group operating in all event professions, GL events works in three major segments:
event organisation, event venue management and services for fairs, congresses and events.
© Odile Decq architect / Felice Varini – Altitude 150
GL events announced today further European expansion of its Venue and Event Management activity with the addition of the Padova Exhibition Center in Italy to its portfolio of venues.
Acquisition of a majority stake in PadovaFiere
According to the terms of the agreement, PadovaFiere Spa shareholders (the city, Chamber of Commerce and the province) will contribute the company's non-real estate assets (portfolio of trade shows, exhibitions and events and the management of the site) to a special new company created for this purpose. GL events will then acquire 80% for approximately €16 million and contribute additional equity capital of €4 million.
Padova Fiere will benefit from a 30-year lease agreement for the venue.
A dynamic venue
With a staff of 43, the PadovaFiere management company generates annual sales of approximately €20 million with an operating margin in line with that of GL events' Venue and Event Management businesses.
A leading Italian venue
The PadovaFiere, with exhibition space of 150.000 (of which 70,000 m² are halls) idealy located at the city's doorsteps, every year hosts more than 600 trade shows, exhibitions and events representing 11,000 exhibitors and welcoming 730,000 visitors (website: www.padovafiere.it).
PadovaFiere, assuring the venue's operational management, has significant expertise and a well-established track record in organizing trade shows and exhibitions with notably FLORMART, BIONOVA, TECHNOBAR (hotel equipment) and other exhibitions concerning furnitures, transport and leasure.
After entering Spain and the addition of the Barcelona International Convention Center, GL events' coverage has been extended to Italy, Europe's second-largest trade show market.
This 12th site further strengthens the company's network of venues and should rapidly provide new synergies for Venue and Event Management between France and Italy.
Publication of 2004 annual sales: Tuesday, 8 February 2005, (after the close of trading)
GL events, bringing people together
Managing Director Corporate Finances and Administration : Erick ROSTAGNAT
Telephone : + 33 4 72 31 54 20
Fax : + 33 4 26 20 42 00
Email : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581