ITE Acquires 50 Percent Stake in Indonesia’s Debindo
International exhibition organiser, ITE Group plc, has expanded its operations in Southeast Asia with the acquisition of a 50% stake in Indonesia-based organiser, PT Debindo Unggul Buana Makmur(DUBM), for an undisclosed amount. The completion of the acquisition is subject to the approval of the Indonesian Investment Coordinating Board – BKPM. Exhibition specialist brokers, Mayfield Media Strategies, represented DUBM in the deal.
According to ITE, the original shareholders of DUBM will continue to manage the business. DUBM are the owners of the Indobuildtech Expoportfolio, which is held in Surabaya, Jakarta, Makassar, Bandung, and Bali. Indobuildtech Expo will join ITE’s Build&Interiors portfolio, which includes shows in Moscow, Istanbul, Almaty, and Mumbai. The Jakarta edition, the largest of the Indobuildtech Expo series, is held annually and covers approximately 12,000 m2 of net space and attracts over 33,000 visitors.
ITE’s Chief Executive Russell Taylor commented, “This acquisition delivers on two strategic fronts for us. It further strengthens our market position in the building & interiors sector which is our largest single vertical market and one in which we have considerable depth of knowledge and expertise. Secondly, it adds to our presence in the region’s largest market – Indonesia. It is a country with a strong economy and immense potential.”