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
Générale Location holds henceforth more than 15% of the capital of Paris Expo.
Paris Expo is, like Générale Location, listed on the Second Marché at the Paris Bourse.
Paris Expo counts a large number of shareholders ; its capital is mostly public owned.
Pursuant to article 356-1 of the law n°66-537 dated July 24, 1966 ; Générale Location declared its intentions.
The reason behind our action finds its momentum within the vocation of Paris Expo and in the terms themselves of the concession agreement:
"the concession holder will be responsible for the fitting, the maintenance, the modernization, and the exploitation of the exhibition hall: with for objective to defend the general interest and more particularly the support and promotion of the business activity in the region and on a national scale."
Within the tight competitive atmosphere in Europe and in the world and thanks to Paris Expo, Paris plans to position itself in such a way as to be recognized as the absolute leader in the realm of major shows and great events.
In order to reach this objective, shows and events organizers, exhibitors, and visitors at the different happenings at Paris Expo, must be able to expect to find an environment of up to date services which cater to everyone's need.
By this acquisition of shareholding and thanks to its positioning as Europe' s leader in engineering and logistics specialist of events, Générale Location wishes to make this objective possible and easier to reach.
Générale Location has not plan to take control of Paris Expo, but has in mind to pursue its program of acquisition, so that it can be considered as one of the first shareholders of reference. Générale Location will determine with the concession holder and the grantor whether there is a possibility for Générale Location to become a board member.
The participation by Générale Location into the capital of Paris Expo will be mostly financed by the disposal of assets not indispensable for the on-going exploitation, resulting into a better return on the invested capital.
Let us recall that Générale Location achieved an increase in capital in the amount of 77 million French Francs at the time of its going public in November 1998.
Générale Location will communicate the good evolution of its net sales on August 10th.
The half-yearly results in line with the forecasts will be presented on September 23rd.
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