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Chinese conglomerate bids to acquire Olympia exhibition centre in UK

04/10/2017| 1:49:32 PM|

China's industrial conglomerate HNA Group is in talks to acquire the Olympia exhibition center in west London from Capital & Counties Properties (CapCo), according to a Bloomberg report.

HNA has teamed up Bugsby Property to offer more than 300 million pounds (USD 375 million) for CapCo’s venues unit, which owns the property. A separate bid from a group including Yoo Capital and a German company is also being considered, according to the report.

The value of the events business fell 1% to 293 million pounds in 2016, according to the company’s annual report. The unit generated earnings of 19 million pounds, the report showed. 

Andy Slaughter, Member of Parliament for Hammersmith said: 

“London Olympia is one of the UK and Europe’s premier exhibition spaces and is vital to both the local economy and the UK events and exhibitions industry.”

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TAGS: HNA Group | UK | Olympia | exhibition
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