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Expomedia
- BY: Andrew Hore |
- POSTED: 10/02/2009 |
The administrator of conferences and exhibitions organiser Expomedia’s subsidiary Expomedia Media has sold two of its Indian businesses.
Expomedia Media’s administrator Grant Thornton has sold Tafcon Expomedia India Private Ltd and Expomedia Events India Private Ltd to Cyprus-incorporated CS Centralstation Services Ltd. Christopher Stainforth and Mark Shashoua, both former Expomedia directors, own 10% of CS each. Expomedia shareholder Stancroft Trust has a 32% stake in CS.
The two companies’ made post-tax profits of €50,000 on revenues of €1.7m in 2007. CS is paying just over €300,000 for the businesses.
CS has already bought the main Indian, Polish, Russian, Croatian and UK assets from the Expomedia’s administrator MCR for just over €300,000.
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