Italian trade show organiser Rimini Fiera Spa and Fiera di Vicenza Spa (FdV) have announced the successful completion of their merger agreement, with the official founding of the new company Italian Exhibition Group Spa (IEG).
Following talks over the last few months and the approval of the respective shareholder meetings, the two companies have united forces to become one single corporate entity, generating the first example in Italy of a merger between trade show enterprises.
On the basis of the financial soundness and performances that Rimini Fiera and FdV have achieved in recent years, significant joint economic results are expected for 2016: a turnover of about 119 million euros, the second Italian player in terms of overall volume, strong profitability and net assets of more than 100 million euros.
IEG becomes the top body in Italy in terms of the number of directly organized shows with 61 in its portfolio (90 percent own property) and 160 other events and congresses. It will be Italy's leading player in the promotion and internationalisation of some of the most important and successful made-in-Italy production chains. The company's aim is to be listed on the stock exchange and to act as a unifying element for other trade show organisations, the company said in a statement.
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