SGX and the Baltic Exchange Confirm Completion of Acquisition
sgx.com – Singapore Exchange Limited (“SGX”) and The Baltic Exchange Limited (“Baltic Exchange”) are pleased to announce that the acquisition of the Baltic Exchange by SGX has been completed today as planned, bringing together complementary strengths of Singapore and London, two of the world’s most important maritime centres.
The despatch of consideration and payment of the Special Dividend to Baltic Exchange shareholders is expected to take place on 18 November 2016.
Further to the announcement on 26 September 2016 that Mark Jackson has been appointed to the role of Chief Executive Officer of the Baltic Exchange, it is confirmed today that he will begin his role on 31 January 2017. Alex Lenhart, currently UK Country Manager for SGX, will serve as interim CEO.
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The transaction is expected to close in the third quarter of 2018.