ABN shifts shares to Expocentres parent

Expomedia Group has jumped 30% in value after financial group ABN Amro switched its investment in Expomedia subsidiary Expo- centres Eastern Europe (EEE) to the parent firm.

Expomedia Group has jumped 30% in value after financial group ABN Amro switched its investment in Expomedia subsidiary Expo- centres Eastern Europe (EEE) to the parent firm. ABN Amro transferred £5.4m worth of shares from EEE, giving it a 20% stake in Expomedia while increasing the company’s value to £25m. Expomedia is now sole owner of EEE. “ABN is committed to what we are doing,” said Expomedia finance director Darra Comyn. “We now have an ABN representative on our board. With this move they can see how their investment is developing.” Expomedia intends to use the money to add to its chain of exhibition centres across central and Eastern Europe. The company operates the Warsaw International Expo- centre (WIE) and has plans for more centres in Hungary and the Czech Republic. Meanwhile, the WIE has signed long-term agreements with two Polish organisers. MCT is to stage Instal Expo on 11 September, and the Logistics Transport and Forwarding Exhibition on 4 April. PSP will hold its Gas Station Fair on 8 May. “One of the advantages for organisers is that we provide long-term agreements, in contrast to most centres, which provide contracts on a year-by-year basis,” said a WIE spokeswoman.

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