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.