LONDON (Alliance News) - Arena Events Group PLC said Thursday it has bought the UK & Middle East temporary structures business of The Structure Group of Companies Ltd for GBP1.4 million in cash.
The acquisition brings with it TSG's UK and Middle East product, staff and contracts.
Arena Evens also said on Thursday it has exercised its option to acquire the remaining 49% shareholding of its Hong Kong subsidiary, Arena Hong Kong Ltd, for GBP900,000 paid in cash on completion.
Arena Hong Kong provides temporary structures to a number of major events in Hong Kong including the Kong Hong Rugby 7's, the Hong Kong Open golf, Formula E, and the Art Central exhibition.
"TSG's products and expertise will assist the group in delivering innovative temporary structures and help deliver further growth within this sector. We are delighted with the opportunity to bolster our services and better serve the increased demand for innovative temporary structures in the UK and MEA," said Arena Chief Executive Greg Lawless.
Shares in Arena were up 0.7% at 68.98 pence on Thursday.
