According to reports, the UK-based UBM group has bought the Renewable Energy India series of fairs from Exhibitions India Ltd for around Rs 50 crore, according to sources close to the development.
The four-year-old Renewable Energy India expos are among the larger exhibitions on green energy in Asia. The 2011 event saw an exhibition space of over 10,000 sq. m filled with product displays.
“We have taken a decision to transfer the future series of the Renewable Energy India expos to the UBM India Group. The expo will leverage the global strength of the UBM Group to attract a wider worldwide participation to the expo,” Mr Prem Behl, Chairman, Exhibitions India Group, said.
Mr Behl sees a great scope for events related to renewable energy in India, given the thrust to clean energy in India and globally.
UBM Group is a global conglomeration with more than 6,000 professionals working in 30 countries around the world. It operates in five main business segments: events; targeting, distribution and monitoring; data services; online – marketing services; and print – magazines.
Incidentally, this is UBM’s second acquisition in India in less than three months. In October, UBM plc announced that it had acquired a 70 per cent stake in Index Furniture Private Ltd from the Indian company’s promoters. The Index fairs were said to be among India’s largest annual furniture and interiors exhibitions, held in Mumbai, Bangalore and Hyderabad.