Clarksons pays A$10 million for Anchor Cross
London-based shipbroker Clarksons has acquired Australia’s Anchor Cross Shipbrokers Pty Ltd. for A$10 million ($7.7 million).
“Acquiring Anchor Cross will enhance our opportunities to add global growth to the dry bulk area of our activities,” said Richard Fulford-Smith, Clarksons’ chief executive officer.
As a consequence of the purchase, Anchor Cross will be absorbed into the Melbourne office of Clarkson Australia.
Clarksons paid an initial A$6 million ($4.6 million) in cash and A$4 million ($3.1 million) by the issue of new ordinary shares in Clarksons over the next three years based on the share price at the appropriate allocation date. In addition, deferred consideration of up to A$2 million ($1.5 million) may be payable in new ordinary shares dependent upon the achievement of performance targets over that period.
