Independent journal on economy and transport policy
14:44 GMT+1
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Singapore Exchange and Baltic Exchange have agreed the terms for the fusion
The transaction, of the total value of about 100 million euros, will be put into effect within the November end
August 22, 2016
Singapore Exchange (SGX) and Baltic Exchange has announced today to have agreed the terms with which the first society, that it manages the Stock exchange of Singapore, it will acquire the entire capital of the second one, that it manages main constituted international marine Borsa give beyond 600 companies of the field of the shipping.
Communicated price at the beginning of this month is confirmed that the acquisition of the capital of Baltic Exchange will happen for a fee pairs to 160,41 pounds for cash each action, ( on 4 August 2016), while the value of the final dividend is raised that the shareholders of Baltic Exchange will embed for the actions in they possession, that it will be pairs to 19,30 pounds cash for every share. The offer has therefore a total value pairs to about 87,0 million pounds (100 million euros).
It is announced moreover that SGX has received from the members of the executive board of Baltic Exchange and from shareholders of the London market marine who together represent about 74% of the share capital the irrevocable engagement to vote in favor of the transaction, operation that - second the forecasts - will be put into effect within the end of the next November.
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