Joint Venture

12 Nov 2007 07:00

Tarsus Group PLC12 November 2007 TARSUS GROUP PLC New Joint Venture 12 November 2007 Tarsus Group plc, the international business-to-business media group withinterests in exhibitions, conferences, publishing and on-line media, has todayannounced the formation of a new joint venture in France. On 5th September 2007 Tarsus announced the acquisition of SEPIC which is theowner and operator of the Midec and Mod'Amont exhibitions in Paris. Mod'Amont isthe leading international exhibition for clothing accessories and is co-locatedwith the pre-eminent international textile exhibition Premiere Vision. Tarsus and Premiere Vision will now form a joint venture to run Mod'Amont andPremiere Vision will acquire 49% of the exhibition for €3.5million for cash.Completion is expected to take place in January 2008. In addition, the joint venture has entered into an agreement to share marketingand operating services at their co-located events and it is planned to replicatethe Mod'Amont exhibition alongside Premiere Vision internationally. The directors of Tarsus continue to anticipate that the acquisition of SEPICwill be earnings enhancing in the year to 31 December 2008. Douglas Emslie, Group Managing Director of Tarsus said: "Mod'Amont and Premiere Vision are complementary exhibitions and the formationof the joint venture will further their potential both in the important Frenchmarket and internationally". For further information, please contact: Tarsus Group plc:Douglas Emslie, Group Managing Director: 020 7593 4000 Media:Matthew Moth, Madano Partnership: 020 7593 4000 Investors/Analysts:Neville Harris, IRfocus: 020 7593 4215 This information is provided by RNS The company news service from the London Stock Exchange