MCH Swiss Exhibition (Basel) Ltd., a company belonging to MCH Group Ltd. in Basel, is acquiring the remaining 40% of the shares in Asian Art Fairs Limited in Hong Kong on 24 October 2014, having held 60% of the shares since 1 July 2011.
The acquisition of the majority holding at that time was coupled with the option of acquiring the company in its entirety in 2014. MCH Group is now taking up this option. The parties have agreed not to disclose the purchase price or other details of the contract.
In 2008 Asian Art Fairs Limited launched ART HK – Hong Kong International Art Fair.
Following the acquisition of the majority shares in Asian Art Fairs Limited by MCH Group in 2011, the show has been developed into Art Basel’s platform in Asia, the leading international art fair in Asia, running alongside Art Basel’s shows in Basel and Miami Beach. The first edition of Art Basel in Hong Kong took place in 2013.
About Art Basel
Art Basel stages the world’s premier art shows for Modern and contemporary works, sited in Basel, Miami Beach, and Hong Kong. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition. In addition to ambitious stands featuring leading galleries from around the world, each show’s singular exhibition sectors spotlight the latest developments in the visual arts, offering visitors new ideas, new inspiration and new contacts in the art world.
UBS is Art Basel’s global Lead Partner, supporting all three shows in Basel, Miami Beach and Hong Kong. The firm has been the Lead Partner of the Basel show for the past 20 years and of Art Basel in Miami Beach since the show’s inception in 2002, and for Hong Kong beginning in 2014. UBS has a rich history of supporting cultural and artistic endeavours across the world, with a focus on promotion, collection and educational activities in the world of contemporary art. For further information on Art Basel’s partners, please visit artbasel.com/partners.