ADNEC Group, a wholly owned subsidiary of Modon Holding, has told the Abu Dhabi Securities Exchange (ADX) that it completed the acquisition of the Business Design Centre (BDC), one of the leading trade and exhibition venues located in London.
The transaction was done through ADNEC’s 100 percent-owned subsidiary, ExCel London (Excel). ADNEC did not disclose the financial details.
ADNEC expands event space
The acquisition is a testament to Modon Holding and ADNEC Group’s commitment to investing in and supporting the growth of the global events industry. With its strong reputation and long-term heritage, BDC will provide ADNEC Group with an ideal platform to enhance its presence in the sector.
Originally the Royal Agricultural Hall dating back to 1862, BDC is a Grade II listed venue that spans a 4.5-acre freehold estate. It is one of London’s most historic and popular MICE venues and hosts an array of leading events, awards, and launches. It is the host venue of the London Art Fair, HIX and the Surface Design Show. It welcomes 900,000 visitors annually for its 130 events.
The North London venue is a multiple award winner and the current Exhibition News Venue of the Year.
In addition to its 6,000 square meter of dedicated event and conference space, BDC also provides over 12,500 sqm of high-quality, let-able space for showrooms, offices, and serviced offices. The estate also includes the freehold title to the Hilton Hotel land located in Islington, London.
Bill O’Regan, Group Chief Executive Officer of Modon Holding, commented: “The acquisition of BDC reinforces our leadership position in the global exhibitions and events industry, diversifying our portfolio with exceptional assets in our key markets of focus. We are committed to investing in ways that create lasting shareholder value while expanding Modon Holding’s global presence.”
Humaid Matar Al Dhaheri, Managing Director and Chief Executive Officer of ADNEC Group, added: “The acquisition of Business Design Centre reaffirms our commitment to enriching the services we offer to our partners and event organisers.
“By expanding our portfolio of event centers to four, we are not only enhancing our competitiveness, but also diversifying our venue offerings and underlining the Group’s commitment to fostering sustainable business growth.”
Since ADNEC Group’s acquisition of Excel in 2008, the venue has continued to expand, operating approximately 125,000 sqm of MICE space and becoming London’s first International Convention Centre in 2010. It is now the largest integrated conference and exhibition venue in Europe.
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