ART BASEL ORGANIZERS ACQUIRE MAJORITY STAKE IN ART HK

According to a press release, MCH Swiss Exhibition (Basel), the company that organizes Art Basel and Art Basel Miami Beach, will acquire a majority stake in Asian Art Fairs, the owners of the fair Art HK on July 1, 2011. This year’s Art HK runs May 26–29, but the next edition will be moved to February 2–5, 2012, so as to better accommodate the dates of Art Basel and Art Basel Miami Beach. Art HK began in 2008; the 2012 edition will continue to be called Art HK, and will retain Magnus Renfrew as its director. The next edition of Art Basel runs June 15–19, 2011.

“As the organizer of Art Basel and Art Basel Miami Beach—the two most important art shows worldwide—we have every interest in a strong presence in Asia,” René Kamm, CEO of the MCH Group, stated via the release. “With our acquisition of Asian Art Fairs Limited and Art HK […] we will be able to build on the know-how while, at the same time, channeling our own extensive expertise in the art world.”