ITE completes acquisition of Ascential Exhibitions

London, 17th July: Ascential plc announced the completion of its sale of Ascential Exhibitions to ITE Group plc for a total cash consideration of £300 million (US$395 million).

The acquisition was announced on 15th May and was approved by Ascential’s shareholders at a general meeting on 25th June.

Separately, ITE announced the completion of the disposal of a 75% stake in ECMI ITE Asia Sdn. Bhd and its related assets in Indonesia to UBMMG Holdings, a subsidiary of UBM plc, for a cash consideration of MYR 15 million (US$3.7 million).

Sources: Ascential press release, ITE announcement [1], Exhibition News article, ITE announcement [2]