JEGI CLARITY Represents Summit Professional Networks In Sale Of The Investing In African Mining INDABA To Euromoney
Summit Professional Networks, the leading diversified b2b media and information company serving the insurance, financial services and legal communities, has sold The Investing in African Mining Indaba annual professional conference to Euromoney Institutional Investor PLC (LSE: ERM), a leading international publishing, events and information company focused primarily on the financial markets. Terms of the transaction were not disclosed.
JEGI CLARITY (www.jegiclarity.com) of New York, NY, the leading independent investment bank for the global media, information, marketing and technology sectors, represented Summit Professional Networks in this transaction and acted as its exclusive financial advisor.
The Investing in African Mining Indaba is the world’s largest mining investment event and is dedicated to the capitalization and development of mining interests in Africa. The event is designed for investors, financiers, mining executives and other stakeholders who have a vested interest in the African mining value chain.
“Mining Indaba and its delegates, sponsors and organizing team are fabulous assets,” said Steve Weitzner, Summit’s President and CEO. “The event is THE place to meet for anyone and everyone interested in the development of mining on the African continent. It has served as a catalyst for billions of dollars invested into African mining, since it was first organized 20 years ago. While Summit has enjoyed its stewardship of the Mining Indaba, we have been moving toward a tighter focus on integrated marketing solutions for financial service marketers. Euromoney is already a leader in the metals and minerals industries and has the international resources to accelerate Mining Indaba’s growth and expand the business globally. We are proud of the Mining Indaba team and wish them even greater success at Euromoney,” Weitzner said.
“Over the past 20 years, Mining Indaba has established itself as the must-attend forum for anyone active in African mining,” said Richard Ensor, Chairman of Euromoney. “The event is highly complementary with our commodities and investment portfolios and will benefit from being part of a more diverse and international platform. With Africa expected to play a central role in the global metals and mining sector for the foreseeable future, Euromoney also intends to build on the Mining Indaba’s position as a premier mining investment event by investing in content and the latest networking tools, and using our strong links with institutional investors and governments around the world.”
Jonathan Moore, who has served as Senior Vice President of Events and Managing Director of The Investing in African Mining Indaba at Summit, will join Euromoney to run the business from its New York offices. The event’s organizational and sales teams will also join Euromoney.
We engaged JEGI CLARITY to sell our Indaba business because of their extensive market knowledge of global strategic buyers and leading position as M&A advisors in the event industry. We were very satisfied with their advice and the outcome of our process.
Steve Weitzner, President & CEO, Summit Professional Networks