SGX Extends Exclusive Talks with Baltic Exchange

Singapore Exchange (SGX) has extended the period of exclusive discussions to buy the London’s Baltic Exchange by two months.

According to the new information, the deadline for the talks has been pushed from June 30, 2016 to August 31, 2016.

The announcement comes on the back of the exclusivity agreement signed between the parties in May, which allowed the Baltic Exchange to consult with stakeholders and undertake discussions with SGX.

Over the past weeks the Baltic Exchange and SGX have met with Baltic Exchange shareholders, members and panellists as well as the wider stakeholder community “to discuss the potential transaction and have made good progress in consultations.”

The Baltic exchange added that the extension to the period of exclusivity allows this dialogue to continue.

The exclusivity agreement was signed after discussion with a number of interested parties. Besides the Singapore Exchange, other bidders included CME Group (CME.O), ICE (ICE.N) and Platts, according to Reuters.

“SGX has indicated that in the event its bid is successful, it would maintain the current model for the Baltic business and our presence and building in London, as the platform for the Baltic’s future growth. The proposed transaction would further strengthen the links between London and Singapore, two of the world’s leading maritime business hubs, to the benefit of all,” Chairman Guy Campbell said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >