Updates

Tarsus - Buys US travel event organiser

January 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Tarsus announced the acquisition of an 80.1% interest in Connect Meetings funded by a placing of 10.3m new shares (10% of the share capital) at 235p to raise £24.1m. The placing proceeds as well as existing debt facilities will be used to fund the initial US$44m with an option to acquire the remaining 19.9% for up to US$12m.Connect is a US business travel and meetings event organiser. In 2016 it held 13 events in the US. The flagship one, Connect Marketplace, is an annual event in August targeting planners, suppliers and experts. Assuming the full amount is paid, the deal represents an exit multiple of 8x operating profit.Separately, Tarsus has also acquired 65% of Hometex from the Guangdong trade body for up to £ ...

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Tarsus - Buys US travel event organiser

January 2017

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