19/09/08

Nexus Business Media Limited today announces that it has disposed of its interest in its UnderSea Defence Technology shows to Clarion Events. The shows, UDT Europe and UDT Asia Pacific, have been sold for an undisclosed sum.

The events have been sold as going concerns and the sale will involve the transfer of staff under TUPE arrangements.

Clarion is the largest independent event organiser in the UK- who entered the defence and security business in May of this year with the acquisition of DSEi (Defence Systems and Equipment International), ITEC and LAAD (Latin American Aerospace and Defence). Adding UDT to this portfolio makes strategic sense for Clarion as well as achieving an excellent value for Nexus shareholders.