GL events strengthened its tradeshow organization in Italy
GL events concluded a memorandum of understanding to acquire Promotor International with Mr. Alfredo Cazzola, its main shareholder and chairman.
This acquisition will be finalized in early July 2007 following due diligence.
The Italian trade show organizer of prestigious trade shows such as the international automobile exhibition of Bologna: the MOTOR SHOW, every year attracts more than one million visitors with 140,000 m2 of exhibition space.
- My Special Car, the tunning trade show of Rimini,
- SMAU, the Milan B2B exhibition dedicated to Information & Communications Technology,
- Salone del Vino, the Turin wine trade show,
- as well as Restructura Torino and Progetto & Arredo, Restructura Genova, Expocasa, Idea Sposa.
These trade shows welcome more than 1.5 million visitors and exhibition space of approximately 360,000 m2.
This transaction does not cover the real estate assets of the Turin Exhibition Park.
With forecasted sales of €32 million in 2007 and an EBITDA ratio exceeding 15%, Promotor International is a very well run operation that offers a perfect fit with the Group's organization.
With this acquisition, GL events achieves a twofold objective:
> Strengthen its offering of events for the general public.
> Strengthen its positions in Italy, one of the most important markets in Europe in this sector.
Mr. Alfredo Cazzola, a leading entrepreneur in the Italian private exhibition sector, will retain the operational management, contributing to GL events his experience of the market.
Building on the expertise of the management of Promotor International GL events, will pursue the development of successful events for Bologna, Rimini, Milan, Padua and Turin.
Upcoming events:
Publication of 2007 first-quarter sales - 24 April (after the close of trading)
