QInvest , Qatar’s leading investment bank, has sold its stake in Asian Business Exhibitions and Conferences (ABEC), India’s leading trade exhibition organiser, to ITE Plc, the London-listed global trade exhibition organiser focused on emerging markets.
Commenting on the transaction, Tamim Hamad Al Kuwari, QInvest ‘s newly appointed CEO, said: » QInvest ‘s successful realisation of its investment in ABEC shows the firm’s capability in private equity and its ability to manage and profitably exit investments in a difficult economic environment »
Franco Danesi, QInvest ‘s representative on ABEC’s Board of Directors, said: « ABEC has been a great investment for QInvest . We are delighted to have contributed to their continuing success by facilitating a strategic tie-up with ITE, which will surely strengthen ABEC’s capabilities by providing global reach and best practices ». S M Gandhi, ABEC’s Chairman, said: » QInvest has been a great partner for ABEC and helped us tremendously in building the foundations for our next phase of growth. We are delighted to be working with a great partner such as ITE, who shares with us a strong belief on India’s prospects in our industry »
ABEC runs 19 exhibitions across 11 vertical markets including architecture, design, construction, education, lifestyle, real estate and oil & gas.