ADNEC makes cash offer for Excel London

ADCG (UK), a subsidiary of the Abu Dhabi National Exhibitions Company (ADNEC), has offered around £178m for the purchase of Excel London. The boards of ADCG and London International Exhibition Centre Holdings (LIECH), which is Excel London’s holding company, have agreed on a recommended cash offer. C&IT understands it is likely the offer will be accepted. If the deal gets the go-ahead, ADNEC would retain the existing management of LIECH with the exception of the board of directors, who have agreed to resign. ADNEC intends to expand Excel London so that it can compete for and hold larger and a greater number of events. ADNEC chief executive Simon Horgan said: “ADNEC’s strategy is to become the world’s leading provider of venues to the exhibitions industry. By developing a network of world-class venues, including venues with the stature of Excel London, we will be able to serve the needs of an industry that is increasingly global in its outlook. Excel will play a vital role in delivering ADNEC’s strategy and in doing so, has a very bright future.” LIECH chaiman, and former Conservative cabinet minister, Lord King said: “All who work in the LIECH Group have earned a deservedly high reputation for the excellent service we provide to the organisers, exhibitors and visitors at Excel London, and there is now the exciting prospect for the ADEC and the Excel team to continue the further development of this important destination.”

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