France/China - International B2B media group Tarsus has sold its 50 per cent share in MD Management SAS to joint venture partner, Reed Exhibitions France, for £400,000.
The sale, which resulted in a small book profit according to a company spokesman, continues Tarsus’ strategy of offloading smaller shows to focus on larger events with established brands, which it says are more resilient throughout the economic cycle.
Tarsus Group MD Douglas Emslie says the company is looking to increase its business in the faster growing emerging markets while “managing its portfolio” in the mature markets such as Europe and the US, which many commentators believe will take longer to emerge from the recession.
The company has teamed up with its Chinese partner Hubei Hope to inject a further RMB 10 million (US$1.42 million) into their joint venture, Tarsus Hope. The cash will be used to fund acquisitions and new launches in Tarsus Hope’s core exhibition sectors of medical and industrial equipment in Central China.
Although the investment is conditional on Chinese regulatory approval, Tarsus claims it is a key step towards developing the group's Chinese event portfolio.
