The International Holding Company has completed its acquisition of a majority stake in Arena Events Group, which specializes in designing and supplying outdoor events and major entertainment events.
According to Arabiya Net, this deal, which included the acquisition of a 70% stake in Arena Events Group, for a total of 239.8 million dirhams, represents the first steps in the global company's investment. Holding within the international sector for event services and temporary equipment for hosting various entertainment events, which will add great value to its diversified portfolio of assets, which includes projects and investments across many vital sectors.
The Arena Events Group is one of the world's leading event management and hospitality services companies, and its portfolio includes integrated event solutions such as structural and temporary products. grandstand seating, exhibition services, cooling and interiors catering to a wide range of major sporting and other outdoor and luxury leisure events in the UK, North America, the Middle East and Asia.
Under this deal, Tas'heel Holding, a partner of Arena Events Group, will cooperate with the International Holding Company in order to further consolidate the group's reputation and continue its path.
Paul Berger, the current CEO of Arena Events Group in Europe, Middle East and Africa, will take over as Group International CEO.
The CEO and Managing Director of the International Holding Company, Sayed Basr Shuaib, said that in light of the acceleration of the world's recovery from the repercussions of the Covid-19 pandemic, we are witnessing today Great momentum in the events and events sector, which was supported by a number of factors, most notably comprehensive vaccination campaigns and the success of global markets in restoring their activities naturally, which resulted in the creation of new opportunities to achieve accelerated growth within this sector.
For his part, the newly appointed Chairman of Arena Events Group, Peter Abram, said that Arena Events has a wide branch network of 15 international offices in addition to its long history spanning over 260 years and its team of more than 1,000 employees across different regions.
