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ITE completes acquisition of Shanghai Gehua stake

09 December 2016 13:42

ITE Group has completed its acquisition of a 70% stake in a small Shanghai-based business running a portfolio of complementary exhibitions.

ITE Asia Exhibitions Limited, a wholly owned subsidiary of ITE, has received approval from the Chinese Government which signals the completion of this transaction to purchase (i) 70% of the issued share capital of Shanghai ITE Gehua Exhibitions Co Ltd, an exhibition organiser based in Shanghai, and simultaneously (ii) 70% of the issued share capital of ITE Gehua Exhibitions Co Ltd, based in Hong Kong.

Founded in 2001, Shanghai Gehua runs a portfolio of exhibitions in China spanning Textile and Clothing, Auto Parts and Accessories, Mechanical Equipment, Gifts, and Food - attracting both domestic and international exhibitors and visitors.

At 1:42pm: (LON:ITE) ITE Group PLC share price was +0.63p at 156.88p

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