BGC Partners, a brokerage and financial technology company, completed the acquisition of Poten & Partners, a ship brokerage, consulting and business intelligence firm specializing in LNG, tanker and LPG markets.
Under the terms of the agreement, BGC acquired 100 percent of Poten, which includes operations in New York, London, Singapore, Houston, Athens, Guangzhou and Perth, the company said in a statement without disclosing transaction details.
Shaun Lynn , president of BGC Partners, said, “the addition of physical LNG, LPG and tanker brokerage, and energy consulting capabilities will allow BGC to expand its operations in the oil, gas and shipping sectors.”
Poten’s access to market intelligence and its price reporting and analytical products, including LNG, LPG and Asphalt will also add to BGC Partners’ existing energy and commodities suite of market data solutions, Lynn said.
In addition to brokerage, Poten provides value-added services including commercial advisory, technical consulting, project due diligence and multi-client reports, BGC Partners’ statement reads.