Reed Elsevier buys OIP

Reed Elsevier has bought OIP, the French exhibitions group, for an undisclosed sum. In 1993, OIP had an operating profit of Fr32.5m (pounds 3.78m) on turnover of Fr143.8m. OIP runs 13 trade and public exhibitions in Paris including the Salon du Livre book fair, Salon Nautique boat show and FIAC contemporary art exhibition.