Art Düsseldorf. Photo: MCH Group.

Art Basel Parent Company MCH Group Sells its Stake in Art Düsseldorf

Art Basel’s parent company MCH Group has sold its 25.1 percent stake of Art Düsseldorf to Sandy Angus and Tim Etchells, who cofounded ArtHK (now Art Basel Hong Kong) in 2007.

Angus and Etchells—veteran fair organizers who have also launched the Taipei Dangdai, India Art Fair, Art Central Hong Kong, Photofairs Shanghai, and Sydney Contemporary—bought an additional 15 percent share from the fair’s owners, Walter Gehlen and Andreas Lohaus, for an undisclosed sum.

Gehlen, who with Lohaus retains the remaining 60 percent share of the German art fair, said Angus and Etchells bring a “strong international network of successful art fairs . . . [and] the opportunity to reach out to the Asian-Pacific collector community.”

Following a major expansion into regional art fairs in 2016, MCH Group announced its plans to divest from its 60 percent stake in India Art Fair and its 25.1 percent share in Art Düsseldorf. The Swiss firm also announced it would be pulling out of Singapore’s Art SG and would not move forward with the Miami expansion of the car fair Grand Basel as previously planned, opting instead to focus on Art Basel and Masterpiece London. 

The third edition of Art Düsseldorf will take place from November 15 to 17, 2019.