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 announces the signature of a memorandum of understanding to acquire of 70% of Serenas, Turkey's leading PCO and the Group's local partner for the concession awarded for the Ankara Convention and Exhibition Centre. This acquisition fully in line with the Group's international strategy offers three major advantages:
- An addition to the Group of a leader in Turkey and 120 employees with expertise in organising conventions in a market expected to pursue strong growth. Furthermore, Serenas managers will retain an interest in ensuring the company's success.
- By deploying the model for expansion already used for Rio de Janeiro, the Group will be able to rapidly develop "content" for its sites and optimise the occupancy rates for the Ankara Convention and Exhibition Centre and The Seed in Istanbul.
- Through Serenas’ comprehensive global presence in the Turkish market, this acquisition will provide GL events with a solid base for exploring the most promising opportunities for development in this country. Located at the crossroads of Europe, Asia and the Middle East, sustained by robust economic growth and a rich cultural heritage, Turkey is ideally positioned to become a major destination for international business tourism.
This acquisition will be completed soon with its consolidation planned for 1 September 2011. Average annual revenue for Serenas' organisation services and venue management for the Ankara Convention and Exhibition Centre is thus expected to exceed €35 million, distributed among the GL events Live and GL events Venues business.
Half-year results, 28 July 2011 (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
Erick Rostagnat - Managing Director Corporate Finances and Administration:
Tel : +33(0)4 72 31 54 20