sur GL EVENTS (EPA:GLO)
GL Events Enters Exclusive Talks for Saudi Acquisition
GL Events, a key player in the event management sector, has entered exclusive negotiations to acquire 51% of ADD Group in Saudi Arabia. This follows the signing of a non-binding Memorandum of Understanding (MoU).
ADD Group, based in Riyadh, specializes in integrated event services and manages the Innovation Zero World Congress in the UK. The company, with over 400 employees, reported a turnover exceeding €90 million in 2023.
This acquisition marks a strategic expansion for GL Events in the Middle East, promising accelerated market penetration and an expanded service offering. The deal aims to establish a leading local entity to support event development plans.
The transaction is expected to conclude by June 2025, pending successful due diligence and agreement signings.
R. E.
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