Nicosia, Cyprus -- (ReleaseWire) -- 12/22/2015 --Al Thuraya Holdings (http://www.althurayaholdings.com) and EventPro Slovakia s.r.o. (http://www.eventpro.sk) announced today that they have entered into a definitive merger agreement under which Al Thuraya Holdings will acquire all of the outstanding common stock of EventPro. The transaction was unanimously approved by the boards of directors of both companies.
Marianna Padilla-Pagan, Vice president of Al Thuraya Holdings, said: "EventPro has a rich history, a commitment to event planning and media, and a dedication to informing and being active member in the communities it serves. Our merger will combine the best of each of our organizations to create a value to our customer base as well as it will strengthen our position in the Eastern Europe. The merger will develop an investor-focused company which will provide substantial value to the shareholders of both companies. This transaction is an excellent first step in the industry consolidation strategy we have communicated to our shareholders and is a good example of the value-creating opportunities we believe are available."
"We would also like to welcome the outstanding leadership, sales staff and employees of EventPro to the Al Thuraya Holdings family. Our combined company will be an industry leader, dedicated to the local communities we serve, committed to generating value for shareholders and empowering communities to connect, act and thrive," Marianna concluded.
"This transaction marks a critical next step in the transformation of our industry as we build local media and event brands that matter at a time when operational scale is a competitive advantage," said Martina Kaliska, president and chief executive officer of EventPro. "Both EventPro and the entire Al Thuraya Holdings group companies are guided by a vision of strengthening lives and communities, and we'll be better stewards in our local markets by sharing ideas, content and best practices among our new and larger family."