The firm’s 51% stake in the show has gone to its joint venture partner Premiere Vision SAS.
The show takes place bi-annually in Paris in February and September.
Tarsus said the move is part of a further active step in its strategy to "decrease exposure to lower growth traditional markets".
Tarsus group managing director Douglas Emslie commented: "The disposal of Modamont will materially reduce our exposure to the lower growth European market and less than 10% of Group profits will now be generated from France. Tarsus France will continue to focus on its remaining wholly owned portfolio of exhibitions.
"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."
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