EMPL signs definitive agreement to acquire majority shares in WEA GmbH
Nov 16, 2022
MUMBAI: The EXHICON Events Media Solutions Pvt Ltd has signed a definitive agreement to acquire majority shares in the WEA (Worldwide Exhibitions Agency) GmbH.
With the said acquisition, Exhicon Events Media Solutions Pvt. Ltd (EMPL) shall own 79.99 % shares in WEA Asia Limited Hong Kong and 51 % in WEA GmbH Switzerland.
WEA Worldwide Exhibitions Agency GmbH, headquartered in Switzerland, with an Asian subsidiary in Hong Kong is pegged to have the largest Exhibition space, Delegation and Services Sales Agency network in the world.
WEA GmbH, currently has an Exhibition Space, Delegation and Services Selling Agent network in twenty-three countries around the world with its own group offices in Thailand, India, UAE, Hong Kong and Switzerland.
The operations of the company which got affected due to Covid 19 Pandemic are getting back on track with the growing demand for International Participation in Exhibitions and in the fast-growing mode in GCC, Europe and South East Asia.
Founded in 2010, Exhicon Events Media Solutions Pvt. Ltd (EMPL), an EXHICON Group company has grown eleven hundred per cent during FY 21-22 and has extended its business operations in GCC countries.
Together, we will support Exhibition Organizers even better in fast-tracking their international exhibition participation efficiently through the exclusive service offerings of WEA GmbH, said M Q Syed, member of the Board of EMPL and Managing Director of EXHICON Group.
"For us, WEA GmbH is an ideal partner with a highly complementary Exhibition Services portfolio that will accelerate our development with WEA's global sales team, enabling us to usher in our next phase of growth," added Padma Mishra, Group Director of EXHICON.
Claudio Cottone, while signing the agreement in Dubai on the 5th of November said" We are elated to move further ahead with our partnership with EXHICON and are getting ready to serve the growing needs of the International Show organizers in Middle East, Europe and Asia".
Claudio Cottone, founder and CEO of WEA GmbH is to lead the company from Europe and the Middle East, Claudio will be based at the Corporate Headquarter of WEA for the next three years' in UAE to facilitate the growth plans of WEA GmbH in Asia and the Middle East.
