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Modon Holding PSC — M&A Activity 2024
Oct 29, 2024
66570_rns_2024-10-30_361de16c-44e1-4b6f-80d6-71a88f89a907.pdf
M&A Activity
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Press Release
ADNEC Group, a wholly owned subsidiary of Modon Holding PSC, has completed the acquisition of the Business Design Centre, through its 100% owned subsidiary Excel London
Abu Dhabi, 30 October 2024 – Modon Holding PSC ( “Modon Holding” ) today announced that its wholly owned subsidiary ADNEC Group ( “ADNEC” ), has completed the acquisition (through ADNEC’s 100% owned subsidiary ExCel London (“ Excel ”)), of BDCG Holdings Company, the 100% owner of the Business Design Centre ( “BDC” ), one of the leading trade and exhibition venues located in London, UK.
As part of Excel’s ongoing investment in the UK MICE industry, this acquisition ensures a longterm commitment to one of London’s most historic and popular MICE venues. Originally the Royal Agricultural Hall dating back to 1862, BDC, a Grade II listed venue now spans a 4.5acre freehold estate and hosts a wide array of leading events, awards and product launches as well as long-standing shows such as the London Art Fair, HIX and the Surface Design Show. With over 130 events and more than 900,000 visitors a year, the North London venue is a multiple award winner and the current Exhibition News Venue of the Year. In addition to its 6,000 sqm 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.
This move highlights Modon Holding and ADNEC Group’s commitment to investing in and supporting the growth of the global events industry. With its strong reputation and longterm heritage, BDC will provide ADNEC Group and Excel with an ideal platform to enhance its presence in this sector.
Since ADNEC Group’s acquisition of Excel in 2008, the venue has continued to expand, operating c.125,000 sqm of MICE space and becoming London’s first International Convention Centre in 2010. With the most recent expansion of 25,000sqm, Excel has become the largest integrated conference and exhibitions venue in Europe. Excel also houses Immerse LDN, the UK’s largest immersive entertainment district, which opened recently.
Bill O'Regan, Group Chief Executive Officer of Modon Holding, said: "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 organizers. 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. This contributes significantly to Abu Dhabi’s economic prosperity and diversification efforts and bolsters the growth of non-oil sectors.”
أبوظبي، اإلمارات العربية المتحدة ١١١٨٤ ..، شارع الشيخ زايد بن سلطان، مجمع الوزارات، ص. ب مدن القابضة ش.م.خ Modon Holding P.S.C , Sheikh Zayed Bin Sultan St, Ministries Complex, P.O. Box 48111 Abu Dhabi, UAE T +971 2 699 2222 | E [email protected]
modon.com
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About Modon Holding
Modon develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Based in Abu Dhabi, Modon Holding is a Private Joint Stock company listed on the ADX Growth Market with the shareholding of ADQ and the IHC Group being our majority shareholders. Through a diversified business portfolio in the UAE, we are engaged in strategic investment and innovation on an unrivalled scale, shaping future smart living. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
About ADNEC Group
ADNEC Group, a 100% owned subsidiary of Modon Holding, is a diversified holding company based in Abu Dhabi, and acts as a key driver for sustainable business and leisure tourism to support Abu Dhabi's economic diversification goals. As part of Modon Holding’s tourism and events vertical, ADNEC Group manages a number of portfolios include venues, events, hotels, food & beverage (F&B), services, tourism, and media. By leveraging these clusters, ADNEC Group plays a pivotal role in attracting global events to Abu Dhabi, stimulating local businesses and creating opportunities for international investments.
About Excel London
Excel London, part of ADNEC Group, first opened in November 2000, in an area of huge regeneration in London’s historic Royal Docks. Almost 25 years later it has become one of Europe’s largest and most successful event venues, hosting some 400 shows per year and welcoming around four million visitors from every corner of the globe. From major medical congresses including the European Society of Cardiology, through to the World Travel Market trade show and the all-electric Formula E motorsport championship, Excel hosts an array of events all bringing communities and businesses together through the power of faceto-face.
Nael Wishah
Investor Relations - Modon [email protected]
Ahmed Abu Shehab
Media Relations – Modon [email protected]
Rawad Khattar
Weber Shandwick [email protected]
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أبوظبي، اإلمارات العربية المتحدة ١١١٨٤ ..، شارع الشيخ زايد بن سلطان، مجمع الوزارات، ص. ب مدن القابضة ش.م.خ Modon Holding P.S.C , Sheikh Zayed Bin Sultan St, Ministries Complex, P.O. Box 48111 Abu Dhabi, UAE T +971 2 699 2222 | E [email protected]
modon.com