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SGX completes Baltic takeover

One of shipping’s most prestigious institutions is now officially in Singapore hands. The Singapore Exchange (SGX) has announced it has completed the acquisition of London’s Baltic Exchange. The SGX said the move brings together “complementary strengths of Singapore and London, two of the world’s most important maritime centres”.

SGX first moved to take over the 272-year-old British trading institution in May as exclusively reported by Splash.

The despatch of consideration and payment of the special dividend to Baltic Exchange shareholders is expected to take place on November 18.

Mark Jackson will eventually succeed Jeremy Penn as ceo of the Baltic at the end of January with Alex Lenhart serving as interim ceo until then.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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