ITE Group has acquired a minority shareholding in the Indian exhibition organiser, Asian Business Exhibitions & Conferences Ltd (ABEC). ITE purchased 28.3% of ABEC shares from a Qatari investment bank, QInvest and has an arrangement to increase its shareholding in future.
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. The portfolio of events is complementary to ITE’s existing exhibition interests in India and the two businesses will be run concurrently.
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