Pursuits
Art Basel Buys 60% Stake in Hong Kong International Art Fair
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MCH Swiss Exhibition Group, the Swiss owner of Art Basel and Art Basel Miami Beach, will take a 60 percent stake in the company that controls Hong Kong International Art Fair, the fair’s director said today.
MCH, based in Basel, bought the stake in Asian Art Fairs Ltd., which owns ART HK, as the Hong Kong fair is known. The deal takes effect July 1, said Magnus Renfrew, the ART HK director. He didn’t provide financial details.