Having gained acceptance from 92.6% of Platou shareholders Clarksons has entered into a share purchase agreement and a share warranty agreement in relation to the acquisition.
“Further to our proposals made on Tuesday, I am delighted to announce that 92.6% of shareholders in RS Platou have already committed to the terms of the acquisition,” said Andi Case ceo of Clarksons.
“We look forward to welcoming the whole Platou team into the enlarged group and are excited to continue the development of our integrated service offering to clients.”
The acquisition will see Platou shareholders receive 75% of the GBP281.2m price through considerations shares, 16.66% in loan notes, and 8.34% in cash.
The acquisition will require the approval of Clarksons shareholders as well as regulatory authorities.
To fund the loan notes and cash portion of the deal Clarksons will be holding an institutional share placement of 1,613,698 shares.
The deal will create a London-headquartered shipping and offshore services group with 1,400 employees in 21 countries. Core divisions of the new company would comprise shipping and offshore broking, financial, supports services and research.
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