play_arrow

keyboard_arrow_right

skip_previous play_arrow skip_next
00:00 00:00
chevron_left
volume_up
chevron_left
  • cover play_arrow

    Rother Radio (128k) Love Local, Love Music!

  • cover play_arrow

    Rother Radio (64K) Love Local, Love Music!

  • cover play_arrow

    Hit Music Radio (128K) More Music Variety!

  • cover play_arrow

    Hit Music Radio (64K) The Best Variety of Hits!

Business News

Hyve founder tests resolve of rival Ascential with Money20/20 approach

today24/10/2021

Background
share close

The boss of Hyve Group, one of the London stock market’s largest exhibition organisers, is hatching plans to bid for Money20/20, the international fintech event owned by rival Ascential.

Sky News understands that Hyve is in preliminary talks with Ascential about acquiring Money20/20 in a deal that would represent a renewed bet on the global exhibitions sector’s recovery from the COVID-19 crisis.

City sources said the discussions were at an early stage, and might not lead to a deal.

If a transaction does result, however, it would reunite Money20/20 with Mark Shashoua, Hyve’s chief executive, who was in charge of the event when he ran i2i Events, another player in the sector.

One source said a price “in the low hundreds of millions of pounds” was likely to be on the table.

Money20/20 held its latest European event in Amsterdam earlier this month, which was attended by 4000 people, with the annual Las Vegas exhibition getting underway on Sunday.

Hyve’s balance sheet has been fortified by pandemic-related insurance payouts and the arrival of Strategic Value Partners, a prominent investor, as a major shareholder in the group.

More from Business

Formerly known as ITE, Hyve was launched as an international introduction service for Russian businesses following the collapse of the Soviet Union.

It operates prominent trade shows such as Mosbuild, a building and interiors fair in Moscow which was staged earlier this year after having its 2020 event cancelled because of the COVID-19 outbreak.

Ascential and Hyve declined to comment on Sunday.

 Sky News

© Sky News 2021

Written by: Rother Radio News


Previous post

UK News

Eight people arrested after two teenagers die in Essex

Eight people have been arrested on suspicion of murder after two teenagers died in the early hours of this morning in Brentwood, Essex.Police were called to Regency Court at about 1.30am and when they arrived they found three people had been injured. Despite the efforts of medics, two of that group died. Their families are being supported by specialist officers.The third victim was treated for injuries which are neither life-threatening […]

today24/10/2021