Oslo shipbroking and investment firm RS Platou dropped plans to stocklist its own shares in favour of being taken over by longtime rival Clarkson of London. The two brokerages formally agreed to a merger this week, and the new combined firm will be called Clarkson Platou.
Newspaper Dagens Næringsliv (DN), which first wrote about the pending deal last week, reported that Platou’s partners and shareholders will receive cash and shares in Clarkson worth a total of GBP 281.2 million (nearly NOK 3 billion). Those selling Platou shares will wind up with a collective 33.4 percent stake in Clarkson.
Platou’s veteran managing partner Peter M Anker will join the board of Clarkson Platou along with Platou’s chairman Ragnar Horn and board member Birger Nergaard.
Jon-Aksel Torgersen of competing Oslo-based shipbroking firm Astrup Fearnley conceded that the new Clarkson Platou will be “a formidable player” in the market for ship- and offshore-broking. The combined firm will have around 1,400 employees in 21 countries. Clarkson’s chief executive Andi Case will continue to run the merged firm while Anker will be responsible for the brokerage and investment banking operations. The firm will be based in London.