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Leaf has recently assisted GL events in the acquisition by Nexus Point, a private equity fund, of a stake in GL events Greater China, providing the Group additional financial resources to pursue its development in Asia.
GL events strengthened its presence in China in 2019 though several transactions involving the participation of Leaf transaction team.
GL events, which intends to pursue its development in this region, announces the acquisition by Nexus Point, a private equity fund, of a stake in GL events Greater China, the holding company for the Group’s Chinese and Hong Kong shareholdings. This transaction will provide the Group additional financial resources to pursue its development through targeted acquisitions. Nexus Point and GL events will invest 2 billion RMB in GL events China. Nexus Point will provide its knowledge of industry sectors, its resources, and its expertise in identifying targets, completing transactions and experience in creating equity value.
Leaf was involved in the restructuring of the Chinese entities, the drafting and negotiation of the transaction between GL events and Nexus Point.
“GL events Group regards China as a key strategic priority of the global exhibition industry value chain and attaches great importance to the development of our business in the China market. The exhibition industry is key to restarting economic growth. After experiencing the COVID-19 pandemic in 2020, China’s economy has recovered rapidly, and so has the exhibition industry. The Group has always maintained strong confidence in the development of the China market, and we believe that this strategic partnership with Nexus Point will accelerate the business expansion and development of GL events China.” said Mr. Olivier Ginon, Founder and Chairman of GL events Group.
“This is a landmark deal in the event-related world for the size of the transaction and the trust demonstrated by the Chinese investor in the work done by GL events in China” said Jean-Philippe Engel, partner at Leaf.
Kuo Chuan Kung, Managing Partner of Nexus Point stated: “Nexus Point concentrates on industry sectors benefiting from the growth of domestic consumption in China, notably business services, healthcare, the consumer market and education. The event industry is a sub-sector of business services whose potential was identified when Nexus Point was first created.”
Min Li, partner of Nexus Point, added: “Nexus Point has a high degree of confidence in the event industry in China, particularly within the context of China’s dual circulation strategy, the new national economic development model in which domestic circulation plays a dominant role.”
About GL events
As an integrated Group operating in all event professions, GL events works in three major segments: event organization, event venue management and services for fairs, and events. GL events assists companies, institutions, and event organizers at every stage of the process from the definition of their event strategies to final implementation in the field. Recently, GL Events has announced 2018 consolidated revenues topping €1bn.
About Nexus Point
Nexus Point is a private equity fund specialized in opportunities in China by investing in companies to which it contributes significant strategic and operational value. It works in close collaboration with the founders and management teams to develop growth and long-term returns.
About Leaf
Leaf is a corporate law firm specialized in operations in China. Its team composed of Chinese and international corporate lawyers advises mid-cap enterprises and international corporations for their M&A operations in China, their joint-ventures with public and private Chinese players, to expand distribution networks across Asia or to structure investment in Asia-based start-ups. Leaf law firm has offices in France and China.
For further information:
Jean-Philippe Engel: jp.engel@leaf-legal.com
Bruno Grangier: b.grangier@leaf-legal.com