Royal Jaarbeurs sells its share in VNU Exhibitions Asia Ltd in China to Advent International

0
429

Royal Jaarbeurs operates outside of Europe in countries as diverse as Thailand, Vietnam, Indonesia, the UAE and Rwanda with renowned international events such as VIV, ILDEX and HORTI AGRI NEXT. The company has until now also been active in China via its shares in VNU Exhibitions Asia Ltd (VNU EA). Now, following a strategic reorientation, Jaarbeurs has sold its 70% share in VNU EA in China to Advent International, a major player in the global private equity sector, on 1 February. Royal Jaarbeurs will continue to develop, organise and facilitate national and international events from Utrecht and via VNU Exhibitions Asia Pacific in Bangkok.

“The market in Asia is very promising,” says Jeroen van Hooff, CEO of Royal Jaarbeurs. “We are taking our international events to Asia and introducing impressive Asian titles to the European market. With our own office in Bangkok, Jaarbeurs serves as a ‘gateway to Asia’ including destinations such as Vietnam, the Philippines, Indonesia, the United Arab Emirates and Turkey. The sale of VNU EA in China offers us the opportunity to position ourselves even more firmly in the Netherlands and internationally outside of China.

“Led by David Zhong, the local management team at VNU EA has organised numerous successful events in China over the years, including Domotex Asia, R+T Asia and Pet Fair Asia. This has helped VNU EA become a major player in the Chinese event industry. With the arrival of Advent International as a new shareholder, VNU EA will have a firm foundation to further strengthen its position. As Royal Jaarbeurs and VNU EA will continue the VIV Select China and Pet Fair South East Asia events together, we look forward to a fruitful partnership with Advent.”