06.11.2014 - Mission accomplished

MCH Swiss Exhibition (Basle), a company of the MCH Group, acquired the remaining 40 percent of the shares of Asian Art Fairs Ltd, Hong Kong, on October 24, 2014. Since July 1, 2011, it has had a majority shareholding of 60 percent. Acquisition of the majority holding at the time included the option to take over 100 percent of the company in 2014. Non-disclosure was agreed on the purchase price and other contractual conditions. Asian Art Fairs Limited founded Art HK, Hong Kong International Art Fair, in 2008. After takeover of the majority shareholding, the international art fair in Hong Kong became the Asian platform of Art Basel, alongside Art Basel in Basle and in Miami Beach. In 2013, it was held in Hong Kong at the HKCEC for the first time under the name Art Basel. ank

Quelle: Oct 29, 2014 [m+a WebNews]