Nordic Business Report-May 11, 2006-IMAREX acquires electricity broker M3
(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
The Norway-based international maritime futures and options market place International Maritime Exchange ASA (IMAREX) announced on Thursday (11 May) that it has agreed to acquire Norway-based Nordic electricity broker M3.
The purchase consideration comprises a fixed payment of NOK25m and additional payments based on future performance.
M3 has seven brokers and reported revenues of NOK13.8m in 2005.
One Norwegian krone (NOK) is worth approximately 0.09 British pounds (GBP).
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