Blackstone is moving to carve out Clarion Events' operations in Asia as a first step toward reviving a sale of the company. People familiar with the talks, who requested anonymity because the details are private, said the move is part of a plan to find fresh buyers after a prior attempt to sell the whole business stalled.
The firm has tapped Goldman Sachs Group Inc. to help run the process and has begun sounding out potential acquirers, from strategic industry groups to buyout funds. The Asian portfolio is being pitched at roughly $600 million to $700 million. If that goes through, Blackstone plans to market Clarion's remaining businesses in Europe and the US in separate follow-on sales.
Talks are ongoing and could still fizzle. Representatives for both Blackstone and Goldman Sachs said they had no comment.
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Blackstone tested the market last year for a full-company sale that could have valued Clarion at about £2 billion, or $2.7 billion, including debt. That process was shelved after most interested parties targeted specific regions rather than the entire group. Breaking up the company by geography aims to better match buyer appetite.
Clarion runs trade shows and exhibitions across consumer electronics, defense and security, gaming, and technology. A step by step sale would shift who controls those events and the cash flows tied to them, which can ripple into valuations for peers and suppliers that depend on show calendars. It is a reminder that in private markets, packaging the right assets for the right buyers can be the difference between no deal and a premium price.
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