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BtoB

UBM expands presence in South America with three deals

Published on .

London—United Business Media announced Monday three deals that expand its investment in South America. The company said that it has acquired a 60% interest in Navalshore, a trade show for the maritime industry in Brazil. UBM said the 2009 event, which was held in Rio de Janeiro, generated revenue of about $700,000. The next Navalshore is scheduled for Aug. 11–13 this year.

“Navalshore gives UBM a majority share in the leading event for the Brazilian maritime industry, one of the fastest growing maritime markets in the world, and continues our strategy of investing in markets and geographies which provide significant growth opportunities,” Simon Foster, CEO of UBM International Media, said in a statement.

Additionally, UBM said that, in two separate transactions, it has acquired the remaining equity in PR Newswire Brazil and PR Newswire Argentina that it did not already own. UBM said it acquired the remaining 62.03% interest in PR Newswire Brazil for $1.2 million. UBM may owe an additional $200,000 for “performance-related consideration.” UBM acquired the remaining 10% interest in PR Newswire Argentina for $40,000 in cash.

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