RCS - Informa PLC - Saudi Arabia’s EIF acquires stake in Tahaluf

InformaAnnouncement

27/07/2023 09:30

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RNS Number : 4114H  Informa PLC  27 July 2023

27 July 2023

 

Saudi Arabia's Events Investment Fund acquires stake in Tahaluf, the
Informa-KSA strategic joint venture supporting Vision 2030

 

·    Strategic joint venture combines the expertise of Informa, Events
Investment Fund, SAFCSP and SELA

·    Tahaluf will launch new B2B and B2C live events and services

·    JV also plans to bring iconic Informa brands to Saudi Arabia

 

LONDON - Events Investment Fund (EIF), a part of National Development Fund has
acquired a stake in Tahaluf, the Saudi Arabian large-scale live events company
created through a strategic joint venture between the Saudi Federation for
Cybersecurity, Programming and Drones (SAFCSP) and Informa, the international
academic markets, B2B markets and digital services group.

 

SELA, the Saudi owned event production company renowned for its creation of
spectacular event experiences intends to join the joint venture in the near
future.

 

This investment is in line with EIF's strategy to develop a sustainable
infrastructure for the culture, tourism, entertainment and sports sectors
across the Kingdom, by building multiple world class venues by 2030.

 

By leveraging Informa's global expertise, Tahaluf will launch new B2B and B2C
events focused on strategically important sectors such as technology, real
estate, pharmaceuticals, food, health and beauty, tourism and hospitality.

 

Following the highly successful launches of award-winning tech events LEAP and
Black Hat Middle East, and the artificial intelligence event DeepFest in the
Kingdom, Tahaluf plans to launch further diverse original concept events,
including the Saudi Maritime Congress, Global Health Exhibition and Inflavour,
for the food industry. Tahaluf will also bring iconic Informa brands to Saudi
Arabia including Cityscape, CPHI and Cosmoprof, serving the global real
estate, pharmaceutical and beauty industries respectively.

 

In a span of two years, the founding partners of Tahaluf - SAFCSP and Informa
- together with the Ministry of Communications and IT, have turned LEAP into
the world's most attended tech event with attendance reaching 172,000 in 2023.
Tahaluf's strategy is to super charge other launch events at similar rates.

 

The joint venture supports the Kingdom's Vision 2030 with respect to
diversifying the economy and increasing its share in the non-oil GDP within
Saudi Arabia, by bringing global expertise and foreign direct investment into
the Kingdom and creating economic and environmentally sustainable
public/private partnerships. The development of the meetings, incentives,
conferences and exhibitions ("MICE") ecosystem will support the contribution
of the tourism sector to annual GDP, from its current rate
of three percent to more than 10 percent by 2030.

 

The acquisition of a stake in Tahaluf, meaning 'Alliance' in Arabic, was
formally announced with a signing ceremony at Informa's headquarters in London
yesterday (26July 2023). In attendance were Lord Stephen Carter CBE, the Group
CEO of Informa PLC; Faisal Al Khamisi, SAFCSP Chairman; Ahmed AlJasser, acting
CEO of EIF; Alrayan Gadouri Chief of Staff of Sela; Muteb Al Qani CEO SAFCSP;
Mike Champion, CEO of Tahaluf, and other representatives of the JV group.

 

Lord Carter said: "Tahaluf is a dynamic and ambitious initiative, and we are
proud that Informa's expertise is part of delivering world-class, sustainable
events in Saudi Arabia. The incredible success of events such as LEAP have
demonstrated the power of the Tahaluf collaboration, and this increased
investment will accelerate its impact across sectors."

 

Faisal Al Khamisi, said: "By aligning our upcoming portfolio of events with
Saudi Vision 2030's objectives and partnering with the leading key players in
the industry, the results can be efficiently transformative. This goes far
beyond the shows and events to transferring knowledge, building talents,
attracting business tourism, and showcasing Saudi Arabia as the leading
destination for events across the entire region."

 

Ahmed AlJasser, said: "We at EIF are honored and delighted to be part of this
joint venture with such an internationally renowned industry leader and look
forward to working closely with Tahaluf as we develop the nascent MICE
ecosystem in the Kingdom together and move forward in our mission to develop a
world-class entertainment and events infrastructure. This will position the
Kingdom as a global hub for international events in the region, in line with

Vision 2030 plans."

 

Dr. Rakan Alharthy, Managing Director and CEO of Sela, said: "We're passionate
about delivering stand-out events and this is an exciting opportunity to
expand our presence in this growing sector. We look forward to working with
our partners in delivering another key milestone in the Kingdom's Vision 2030
blueprint."

 

Mike Champion, CEO of Tahaluf, added "Tahaluf will scale up at a rate rarely
seen in the events industry, as it continues to employ some of the region's
best events talent to deliver record-breaking, award-winning events like Black
Hat MEA and LEAP. With EIF, SAFCSP and Informa as shareholders, the company is
strategically positioned to deliver outstanding quality events, that help to
transform and develop the Kingdom's MICE sector."

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