Singapore bourse in exclusive talks to buy London’s Baltic Exchange
By Anshuman Daga and Jonathan Saul
SINGAPORE/LONDON, May 25 (Reuters) – London’s Baltic Exchange has entered into exclusive talks with Singapore Exchange (SGX) over a possible sale, months after approaches from several suitors to acquire the centuries-old business, sources familiar with the matter said on Wednesday.
The Baltic Exchange and SGX declined to comment.
The advanced talks do not mean a ammo for sale is guaranteed, said the sources, who declined to be identified as the news is not public.
The London Metal Exchange, CME Group, ICE , state-run conglomerate China Merchants Group and Platts were among other potential bidders.
In late February, the Baltic Exchange confirmed it had received a number of “exploratory approaches” after SGX said it was seeking to buy the hub of the global shipping business.
One source said the potential deal might value Baltic at about $100 million. (Reporting by Jonathan Saul and Anshuman Daga; Editing by Veronica Brown and Dale Hudson)
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