Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

ITE Subsidiary Buys 28.3% Of Shares Of Asian Business Exhibitions & Conferences

ITE Group plc (ITE.L) announced the acquisition by wholly owned subsidiary Airgate Holdings Ltd, of 28.3% of the shares of Asian Business Exhibitions & Conferences Ltd. from QInvest, Qatar's leading Investment bank. The total consideration is 14 million pounds, which is payable in cash on completion. ITE Group expects the acquisition to be earnings neutral for the financial year ending 30th September 2013.

ABEC is one of India's leading exhibition businesses, running 19 exhibitions across 11 vertical markets including construction, architecture, design, education, lifestyle, real estate, and oil & gas.

Click here to receive FREE breaking news email alerts for ITE Group PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.