Blackstone Begins Sale of Clarion Events While the Market Recovers
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Information memoranda were distributed this month, and CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment expressed interest. Clarion's Global Sources trade fairs in China are the source of these inquiries. As events in China and Hong Kong improved, Clarion recently reported a revenue rise to £432.9 million for the 12 months ending January 2024, up from £257 million the year before.
Following the volatility of the tariff, the prospective Clarion deal would rank among the biggest private equity deals. Blackstone Inc. (NYSE:BX) postponed the process in anticipation of stability after Trump's tariff announcement on April 2 caused the biggest dealmaking slump in 20 years. The company observed that Clarion has controlled expenses despite pressure and that its cash flows are above budget.
Recent agreements like KKR's $3.1 billion OSTTRA sale and Prada's $1.38 billion Versace acquisition show that the sentiment has improved following the U.S.-China tariff truce.
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