International
conference organiser and media group Euromoney has acquired two international grain trading conferences: Global Grain Geneva
and Global Grain Asia. The gross asset value of the two companies acquired is put
at US$1.12m.
The
Geneva conference, held annually in November, has grown since its inception in
2003 to a conference attracting 1,000 delegates from more than 50 countries.
Global Grain Asia is a new event designed to serve agricultural grain and oilseed
traders in the Asia-Pacific region. It launches in March in Singapore.
Euromoney Chairman Padraic Fallon said he was “delighted” to make the acquisitions.
“Euromoney
has a successful record of acquiring conferences and developing them into fast-growing
global event businesses,” said Fallon. “The company expects that this move will
likely have neutral earning potential in 2012, however it is anticipated that
earnings will grow thereafter.”
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