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3 years ago
UBM says in talks to buy U.S. trade show rival Advanstar
September 18, 2014 / 6:52 AM / 3 years ago

UBM says in talks to buy U.S. trade show rival Advanstar

(Reuters) - UBM Plc (UBM.L), a British communications and events company, confirmed that it was in talks to acquire Advanstar, a privately held U.S. trade show organiser.

UBM, which also owns PR Newswire, said on Thursday it was involved in discussions which may, or may not, lead to a transaction.

Reuters reported on Tuesday that UBM was in advanced talks to acquire Advanstar for around $900 million.

Advanstar is controlled by hedge fund Anchorage Capital Group and private equity firms Ares Management LP and Veronis Suhler Stevenson. It has changed hands several times over the years between various private equity firms, including Hellman & Friedman, which sold its stake in 2000.

Reporting by Noor Zainab Hussain in Bangalore; Editing by Gopakumar Warrier

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