South Africa – Reed Exhibitions, part of the FTSE listed Reed Elsevier Group has signed a joint venture agreement with Thebe Tourism Group Pty Limited to acquire a majority share in Thebe Exhibitions & Projects Group (TEPG) based in South Africa.
TEPG will be renamed Thebe Reed Exhibitions Pty Limited and will be owned 60% by Reed Exhibitions, 30% by Thebe Tourism Group, with Carol Weaving retaining 10%. It is one of the largest and most successful business events companies in South Africa and runs major exhibitions such as Decorex, 100% Design, Mediatech Africa, the Sports and Events Tourism Exchange and the Business Opportunities and Franchise Expo.
The recently announced Africa Travel Week will be run by the newly formed Thebe Reed Exhibitions in conjunction with Reed Exhibitions, and will be held at the Cape Town International Convention Centre (CTICC) to run from April 28th to May 3rd 2014. The event will comprise three co-located shows – WTM Africa, IBTM Africa and ILTM Africa – encompassing Africa’s inbound and outbound markets for general leisure travel, luxury tourism, and the MICE/business travel sector.
Carol Weaving, Managing Director of Thebe Exhibitions & Projects Group (TEPG) commented: “We are delighted with the partnership. Not only will it give us access to some of the leading brands in the world, but it will help us to grow the footprint of our group across the continent. Reed is the leading global player in the world of exhibitions and its credibility speaks for itself.”
Ms. Weaving continued: “Thebe Reed Exhibitions, through its vast experience and extensive resources, is likely to become an important player in Africa’s future economy. The inaugural Africa Travel Week in Cape Town in April 2014 will set the tone.”
Jerry Mabena, CEO of Thebe Services Division, a wholly owned division of Thebe Investment Corporation went on to state “At Thebe Investment Corporation, we are excited to partner with an international player of Reed’s calibre. We believe the international experience and expertise of Reed, combined with the local market knowledge of TEPG, provides Thebe Reed Exhibitions with an opportunity to become an effective and innovative player in the South African events organisation and management market.”
“Exhibitions by their very nature are key drivers in implementing strategic economic initiatives and creating jobs where they are staged. We firmly believe that the new partnership will expose us to new markets and we will be able to touch new people with our brand.”
Andrew Fowles, Regional President, Reed Exhibitions’ commented: “We are delighted to have forged this partnership with Thebe and look forward to working with the team. Their knowledge and experience will be a great asset to us. We are excited about re-entering the market in Africa and combining Thebe’s success in the region with Reed’s global brands and extensive sales network”
Thebe Exhibitions & Projects (TEP) is one of Southern Africa’s most forward thinking and successful exhibition, trade fair, special project and event organisers. The group is divided into three divisions – Exhibitions, Special Projects, and Venue Management, which manages Johannesburg’s well-known Coca-Cola dome.
Prior to this transaction, the group’s shareholders were Carol Weaving and Thebe Tourism Group, the tourism division of the Thebe Investment Corporation. In order for the exhibitions and events industry to sustain growth in South Africa and expand into the neighbouring regions, a well-matched BEE partnership is essential to future business opportunities.
The group aims to provide the best platform for showcasing industries and nurturing business and networking opportunities in South Africa and surrounding regions.
About Reed Exhibitions
Reed Exhibitions is the world’s leading events organizer, with over 500 events in 41 countries. In 2012 Reed brought together seven million active event participants from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organized by 34 fully staffed offices. Reed Exhibitions serves 44 industry sectors with trade and consumer events and is part of the Reed Elsevier Group, a world leading provider of professional information solutions. www.reedexpo.com