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Braemar ACM Shipbroking born as merger completed

Braemar ACM Shipbroking born as merger completed
ACM Shipping Group has completed its merger with Braemar Shipping Services' shipbroking arm Braemar Seascope, creating Braemar ACM Shipbroking.

The merged entity will benefit from the combined tanker and dry cargo chartering and sale and purchase expertise of the two leading shipbrokers, as well as expanded market coverage.

ACM directors Johnny Plumbe, Tim Jaques, Jürgen Breuer and Mark Tracey have joined the Braemar board alongside existing members Sir Graham Hearne, James Kidwell, Martin Beer, Denis Petropoulos, Alastair Farley and David Moorhouse.

New ordinary shares issued as part of the merger, two for every five ACM shares, started traded this morning on the London Stock Exchange.

Braemar Shipping Services chief executive James Kidwell, commented: "I am delighted to welcome all ACM employees to Braemar Shipping Services Plc. This is a very exciting step forward for the Group and for Braemar ACM. We are creating a top class shipbroking business and we look forward to capitalising on the opportunities that arise from the increased reach and prominence of the business."