Braemar Shipping Services' swoop into the financial market with the purchase of NAVES Corporate Finance will open up both strategic and geographical opportunities, chief executive James Kidwell says.
London-listed Braemar announced the cash and equities deal this morning with the initial price of EUR 24m ($28.6m) potentially rising to EUR 35m based on performance.
Braemar ACM has already been involved in selling vessels for restructuring and private debt specialist NAVES and the transaction will give the brokerage a foothold in the German market, Kidwell explains.
