Tarsus Group Sells Majority Stake in French Venture

October 5, 2011

U.K.-based Tarsus Group sold its 51-percent stake in its French joint venture ModAmont SAS to joint venture partner Premiere Vision SAS for €6.1 million ($8.04 million).

ModAmont takes place biannually in February and September in Paris and is the leading exhibition for fashion accessories in France.

“The disposal of ModAmont will materially reduce our exposure to the lower growth European market and less than 10 percent of Group profits will now be generated from France. Tarsus France will continue to focus on its remaining wholly owned portfolio of exhibitions,” said Douglas Emslie, Tarsus Group’s managing director.

He added, “We now have greater financial flexibility to accelerate our drive into the faster growth emerging markets, where we are actively pursuing potential acquisitions. As we continue to execute our growth strategy, we anticipate a further significant increase in the proportion of our business coming from the emerging markets.”

In May, Tarsus Group acquired 75 percent of the issued share capital of Istanbul Fair Organization, one of the largest independent exhibition businesses in Turkey, for up to £10 million ($16 million) in aggregate payable in cash.

Emslie said at the time, “The acquisition of IFO is an important step in the realisation of our 50/13 strategy to increase Tarsus’ revenues from fast-growing, emerging markets to 50 percent of our total by 2013.”

In a trading update, since the company released its interim results July 27, Tarsus Group has held three major exhibitions.

OffPrice took place August in Las Vegas and generated a like-for-like revenue increase of approximately 6 percent.

ModAmont and Labelexpo Europe (the second largest show in the group’s portfolio that is held in Brussels) both took place in September and produced like-for-like revenue increases of 9 percent and more than 10 percent, respectively, both slightly ahead of management’s expectations.

Tarsus Group’s largest event in the fourth quarter, the Dubai Airshow – on tap Nov. 13-17 at the Airport Expo in Dubai, United Arab Emirates - is on track to meet management’s expectations.

Forward bookings continue to be strong and the board increasingly is confident of good
progress being made this year, according to Tarsus Group officials.

Add new comment

Partner Voices
  MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.  At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:  Protecting Natural Resources  MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.  Committed to Community  Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.  MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.   Fostering Diversity & Inclusion  To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.  MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.