Blackstone Acquires Clarion Events

Blackstone Group shares were slightly higher Monday morning after private equity funds managed by the company said they acquired Clarion Events from private equity funds managed by Providence Equity Partners. The company did not disclose financial terms of the deal, but media reports said the purchase price was around GBP600 million ($781.1 million).

Clarion is one of the world’s largest events and exhibitions organizers, owning the rights to U.K. exhibitions including the Olympia Horse Show, the House and Garden Show, the World Counter-Terror Congress and the Conde Nast Traveller Luxury Fair. It was purchased by Providence for a reported GBP200 million in 2015, reports said.

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