SPH Unit Buys Bizlink Exhibition (ST)

BackJun 16, 2010

THE exhibitions arm of Singapore Press Holdings (SPH) has bought most of a trade exhibitions firm.

Sphere Exhibits, which is wholly owned by SPH, has acquired 90 per cent of Bizlink Exhibition Services, SPH said in an announcement to the Singapore Exchange yesterday.

This comes just days after Sphere said it would buy the exhibitions business and assets of Eastern Directories for $43.5 million. With that purchase, Sphere acquired four fairs: the Comex and IT Show technology fairs as well as the World Food Fair and the Food and Beverage Fair.

Sphere said yesterday it has also acquired the rights to organise two annual trade events: The Singapore Gifts and Premiums Fair, and Franchising and Licensing Asia.

These rights were bought from Bizlink Premium Services, a related company of Bizlink Exhibition, SPH said in its statement.

The total value of the latest acquisition is $1.61 million, of which $9,000 is for Bizlink Exhibition and the remainder is for the rights, 'taking into account goodwill and other commercial factors', SPH said.

The transactions were funded in cash from SPH's internal resources and are not expected to have any material impact on the net tangible assets per share or earnings per share of SPH for the current financial year ending August.