Global chemicals information provider ICIS has announced the signing of an agreement for an increase in its holding in CBI China Co., Limited ("CBI China"). CBI China is a leading provider of pricing and news information and analysis to the petrochemical and energy markets in China.
ICIS and CBI China have successfully collaborated since 2007, when ICIS first acquired a minority holding. This has resulted in the launch of a number of new information products and conferences in China as well as international events. ICIS is a Reed Business Information ('RBI') data services business with a strong record of growth over the last decade.
As part of the transaction, the CBI China conference business will be spun out of CBI China and managed by CBI China's original founders, with ICIS retaining its minority interest. Completion of the transaction is subject to the above restructuring of CBI China's conference business being completed, including the relevant official approvals being obtained. On completion of the transaction, ICIS will have a majority holding in the CBI China market information and consulting business with the original founders maintaining a minority interest and continued collaboration.
The combined ICIS and CBI China businesses will benefit from unrivalled coverage of Chinese and Asian chemicals and energy markets, giving market participants regional and worldwide access to the most robust benchmarks, news and analysis in support of trading and business decisions.
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