Braemar Shipping Services is renewing its focus on shipbroking after completing the planned disposal of its logistics division Cory Brothers.
The UK-listed group said the buyer is Vertom Cory Holdings for a price of between £10.25m ($13.75m) and £15.5m, spread over three earn-out periods ending on 31 December 2024.
The all-cash deal will see a first payment of £6.5m, and three more instalments based on future profit.
