Exhibitions. The Paris-based GL Events, has agreed to acquire 55% of CIEC, the State-owned China International Exhibition Center Group. After the acquisition, the government will retain a 39% stake in CIEC, with its executives holding 6%. It is, to say, the least, unusual to see an international company owning a controlling stake in a Chinese State-owned enterprise and is said to reflect the strong relationships GL has built in the country over the last decade. CIEC has some 100 full-time employees. Revenues in 2019 are expected to be €40m (US$45m), with an operating margin of more than 35%. CIEC organises several events larger than 100,000 gross sq m, including Beijing Fabric Wallpaper Expo, Build & Décor Expo, the China International Door Expo and ISH China & CIHE serving China’s heating, ventilation and air conditioning industries. Transaction terms were not disclosed. The 40-year-old GL Events is one of the world’s 20 largest exhibition organisers, operating in 20 countries, with total revenue of some €1bn. It is a company listed on the Euronext Paris In addition to its owned exhibitions (accounting for c20% of group revenues), manages a network of 40 exhibitions and concert venues. Its exhibitions include: the Rio International Book Fair, Kidexpo, Exponaval and Piscine Global Europe.
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GL Events buys in China
