AsiaEuropeOperations

UK financial regulator approves Baltic Exchange sale

The UK’s Financial Conduct Authority (FCA) has approved Singapore Exchange’s $107m takeover of London’s Baltic Exchange allowing for the deal to be completed quicker than expected.

“In light of the decision by the FCA, the court hearing to sanction the scheme, initially expected to be in late November 2016, has now been scheduled to take place on 7 November,” the Baltic said in a statement.

News that SGX was in discussions to take over the Baltic was broken first by Splash in May this year.

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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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