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29 March 2024

Adnec acquires control of ExCel London through UK unit

The acquisition, valued at more than Dh2.3bn, is part of Adnec's strategy of developing a global network of venues to serve the exhibitions industry (SUPPLIED)

Published
By Staff Writer

 

Abu Dhabi National Exhibitions Company (Adnec), which operates one of the world's most modern exhibitions and convention centres in the capital of the UAE, has acquired control of ExCeL London, the UK capital's leading exhibition and conference venue through a UK subsidiary.

The acquisition, valued at more than Dh2.3 billion, is part of Adnec's strategy of developing a global network of venues to serve the international exhibitions industry, the company said in a statement.

"This very important acquisition is designed to directly support the Abu Dhabi Government's economic diversification strategy," said Sheikh Sultan bin Tahnoon Al Nahyan, Adnec Chairman.

"Ensuring Abu Dhabi's role as a major global business tourism centre is an integral element of the strategy. This acquisition will allow us to attract fresh investment, events and talent to the UAE capital and demonstrates our serious commitment to London, the UK and the international events industry."

The acquisition represents a significant investment in the future of the UK's events and exhibitions industry.

ExCeL London will act as a cornerstone for the development of a blue-chip brand, Adnec said.

"ExCeL London has a strong track record of attracting a wide range of leading events and has become one of Europe's most important exhibition and conference venues," said Simon Horgan, CEO, Adnec.

"Our strategy is to become the world's leading venue provider to the exhibitions industry. By developing a network of world-class venues we will be able to serve the needs of an industry that is increasingly global in its outlook. ExCeL London will play a vital role in delivering Adnec's strategy and in doing so has a very bright future.

"The benefits to Abu Dhabi include increased international awareness of the city and the emirate, international training opportunities for UAE nationals and an opportunity to support international events."

ExCeL London opened in November 2000 and is the city's largest and most successful exhibition and conference centre, having hosted more than 2,000 live events, including The British International Motor Show, one of the world's most popular motor events; and the London Boat Show, a leading public boating exhibition. ExCeL London will also provide key venues for the London 2012 Olympics.

 

Statistics

Dh2.3bn: Is the amount Adnec paid to acquire ExCel London.