MCH Group sells India Art Fair majority stake to Angus Montgomery Ltd

MCH Group, the Swiss company that owns Art Basel, has sold its 65% majority stake in India Art Fair to Angus Montgomery Ltd, which now holds full ownership. The sale is part of MCH Group's strategic shift to divest local art fairs and focus resources on its flagship Art Basel brand and Masterpiece London. Angus Montgomery Ltd previously held 35% of India Art Fair. The same buyer, along with TFI Ltd (backed by Sandy Angus and Tim Etchells), acquired MCH Group's shares in Art Düsseldorf in June 2019. Sandy Angus and Tim Etchells are key players in the Asian fair circuit, with portfolios including Taipei Dangdai, Art Central Hong Kong, Photofairs Shanghai, and Sydney Contemporary. They co-founded Art HK in 2007, which MCH Group bought in 2011 and rebranded as Art Basel Hong Kong in 2013. MCH Group had also announced Art SG, a new fair in Singapore, with a planned debut in March 2019, but later withdrew. MCH Group CEO Bernd Stadlwieser expressed confidence in Angus Montgomery's ability to grow India Art Fair. The company is streamlining operations to invest in Art Basel and its digital marketing capabilities, as outlined by former CEO Hans-Kristian Hoejsgaard. Art Basel Cities, curated by Cecilia Alemani, launched in Buenos Aires in September 2018.