Poten Acquired by New York Brokerage
New York-based global commodities and real estate brokerage BGC Partners said November 16 it has completed its acquisition of Poten & Partners.
A leading ship brokerage, consulting and business intelligence firm specialising in the LNG and shipping markets, Poten was founded over 80 years ago and has 170 employees worldwide.
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BGC said it has acquired 100% of Poten - which includes operations in New York, London, Singapore, Houston, Athens, Guangzhou and Perth - but gave no financial details of the deal.
It said Poten generated some $60mn in revenues in 2017, adding that the acquisition will be recorded as part of BGC's energy and commodities business.