UBM shows taste for fashion

In a bid to balance its emerging markets focus, UBM plans to acquire a US events business

October 3, 2014

What's new:

■ UBM set to acquire US events company Advanstar for $972m

■ £563m rights issue to fund the purchase

■ The deal balances its large emerging markets portfolio

IC TIP: Buy at 548p

UBM's (UBM) exposure to emerging markets paid off handsomely in the first half, but the events group is now seeking to rebalance its portfolio westwards. It has agreed to acquire US events business Advanstar for $972m (£599m) in cash. Advanstar boasts a portfolio of 54 trade shows and 100 conferences, including the highly-prized Magic fashion show in Las Vegas.

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