Nicholas Marks agreed to acquire British Polar Engines Limited from Associated British Engineering plc (LSE:ASBE) and others for £0.1 million on June 8, 2020. In a related transaction, Associated British Engineering also entered into an agreement to sell for the reorganization of the group's "assets for resale. £0.1 million for the intercompany loans between Associated British Engineering and British Polar Engines and £1 for 100% stake in British Polar Engines. The transaction is subject to Associated British Engineering shareholder approval at a general meeting unless the Financial Conduct Authority allows an exemption. As of August 3, 2020, the transaction was approved by the shareholders of Associated British Engineering. Nicholas Marks completed the acquisition of British Polar Engines Limited from Associated British Engineering plc (LSE:ASBE) and others on August 05, 2020.