USA - The Daily Mail and General Trust (DMGT) has confirmed it intends to sell George Little Management (GLM), a B2B events division comprising 15 trade shows in the fashion and home furnishings industries.
The sale, which includes DMGT’s flagship New York International Gift Fair, could net DMGT somewhere in the region of $200m.
The company acquired a stake in the business back in 2000, buying the remainder for US$155m in 2007. A statement from DMGT said it would prefer to focus its events business on fewer areas such as its portfolio of energy shows and operations in the Middle East.
"The strategic review of GLM follows the conclusion that there is limited opportunity to leverage the GLM assets across the wider DMGT group, and that we should focus our events activities onto fewer areas," added a spokesman.
DMGT's events division accounted for more than two-thirds of its parent company’s revenue increase in the first half of 2011.
The Jordan Edmiston group, based in New York, has been appointed to advise on the sale.
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