Carlsquare advises Messe Düsseldorf in the successful disposal of its majority shareholding in Veletrhy Brno a.s.
It was the clear objective of Messe Düsseldorf for 2015 to sell its majority shareholding in its Czech subsidiary in Brno, Veletrhy Brno a.s. (BVV). The City Council of Brno approved the purchase of the majority shareholding on December 18th. The contract was signed on December 22nd in Brno. Closing of the transaction is scheduled for the end of February 2016.
The purchase price is 8.3 million Euro. In addition BVV will repay to Messe Düsseldorf a shareholder loan of 13.7 million Euro representing Messe Düsseldorf’s capital invested in BVV.
Werner Dornscheidt, CEO of Messe Düsseldorf commented: “The decision on the share sale is a logical business decision due to the changing market situation. The market changes in Central and South Eastern Europe – which were partly caused by the financial- and economic crisis – have led to an increased regionalization of the fair business.”