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News 15

Tarsus Group Acquires 70-percent Stake in Turkish Exhibition Company Life Media

In step with its plan to derive 50 percent of its revenues from emerging markets by 2013 (Project 50/13), U.K.-based Tarsus Group bought a 70-percent stake in Turkish Exhibition Company Life Media (Lifemedia Fuarcilik).

"Life Media's exhibitions are the market leaders, not only in the domestic Turkish market, but in the wider region," said Douglas Emslie, Tarsus Group's managing director.

He added, "Given Turkey's unique geographic position on the crossroads between East and West, we believe there is a significant opportunity to develop the existing Life Media portfolio into world leading events."

Tarsus Group will pay approximately £15 million ($24 million) for the 70-percent stake, with £10.6 million ($16.8 million) being paid immediately, followed by estimated deferred payments of approximately £5 million ($8 million) due in 2013.

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