News this week: MCH Swiss Exhibition (Basel) Ltd., a MCH Group subsidiary, will acquire a 60% stake in Asian Art Fairs Limited, the organiser of the Hong Kong International Art Fair (ART HK). According to the company’s announcement, the transaction will be completed on 1st July 2011. The MCH Group will have the option to acquire the remaining 40% stake in Asian Art Fairs Limited in 2014. No further financial details were disclosed.
ART HK, an annual event first launched in 2008, has emerged as a leading art fair in Asia, attracting international galleries, collectors, curators and museum directors. ART HK 2011 will be held from 26th to 29th May at the Hong Kong Convention and Exhibition Centre, featuring 260 galleries from 38 countries. The 2012 edition of ART HK will take place from 2nd to 5th February to coincide with the dates of MCH’s Art Basel and Art Basel Miami Beach.
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