March 6 (Reuters) - ITE Group Plc, a tradeexhibition and conference organiser, said it had acquired amajority stake in a portfolio of events from GPP Energy AdvisorsLtd for 16 million pounds ($24 million).
The deal will be funded in part via an institutional placingto raise 12 million pounds, ITE said adding that the acquisitionand placing are expected to add to earnings in the first 12months.
Chief Executive Russell Taylor said the acquisition wouldallow ITE to move into Africa.
The portfolio includes Africa Oil Week, an annual oil andgas conference, and assets in Africa, Asia and Latin America. ($1 = 0.6562 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing byAnand Basu)
