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Abu Dhabi buys London’s ExCel
ABU DHABI – The Abu Dhabi National Exhibition Company (ADNEC) has bought the UK top events venue – ExCel in London’s Docklands, home of the annual World Travel Market. It paid US$62 million.
The government-backed company, which owns the Abu Dhabi National Exhibition Centre, aims to become the world’s leading exhibition venue developer.
It has flagged further acquisitions to create a global network of exhibition centres.
“This very important acquisition is designed to directly support the Abu Dhabi government’s economic diversification strategy,†said Shaikh Sultan Bin Tahnoun Al Nahyan, Adnec chairman.
“This demonstrates our serious commitment to London, the UK and the international events industry,†he added.
ExCel’s existing commitments, including its role in staging the 2012 London Olympics, will not be affected by the acquisition.
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