Tamim Hamad Al-Kawari
QInvest sells stake in India expo organiser
Doha, December 6, 2012
QInvest, Qatar’s leading investment bank, has sold its stake in Asian Business Exhibitions and Conferences (ABEC), India’s leading trade exhibition organiser, to ITE, a London-listed global trade exhibition organizer focused on emerging markets.
ABEC runs 19 exhibitions across 11 vertical markets including architecture, design, construction, education, lifestyle, real estate and oil & gas.
Tamim Hamad Al-Kawari, QInvest’s newly appointed CEO, said: “QInvest’s successful realisation of its investment in ABEC shows the firm’s capability in private equity and its ability to manage and profitably exit investments in a difficult economic environment.”
Franco Danesi, QInvest’s representative on ABEC’s board of directors, said: “ABEC has been a great investment for QInvest. We are delighted to have contributed to their continuing success by facilitating a strategic tie-up with ITE, which will surely strengthen ABEC’s capabilities by providing global reach and best practices.”
S M Gandhi, ABEC chairman, said: “QInvest has been a great partner for ABEC and helped us tremendously in building the foundations for our next phase of growth. We are delighted to be working with a great partner such as ITE, who shares with us a strong belief on India’s prospects in our industry.”
Characterized by strong local management and with 2012 revenue of $20 million, ABEC’s 8 per cent market share makes it India’s largest exhibition organizer, a statement said. - TradeArabia News Service