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Tarsus Group PLC Announces Acquisition Of PT Infrastructure Asia From PT Event Pro International

Wednesday, 16 Jan 2013 02:00am EST 

Tarsus Group PLC announced that it has agreed to acquire 51% of Indonesian exhibition organiser PT Infrastructure Asia (PTIA) from PT Event Pro International (the Vendor). Tarsus will pay an initial cash consideration on completion of USD0.5 million (approximately GBP0.3 million) for the 51% interest, with estimated total deferred payments of approximately USD2.4 million (approximately GBP1.5 million) in aggregate during 2014 and 2015. Tarsus and the Vendor have conditional put and call options at various points in 2016 and 2017 in respect of the outstanding 49% shareholding in PTIA. The total consideration for 100% of PTIA has been capped at USD23 million (approximately GBP14 million) (the Consideration). The Consideration will be met from Tarsus's existing cash resources. The acquisition is expected to complete in the first quarter of 2013. 

Company Quote

24 Dec 2014