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.