Key Developments: MITSUI & CO., LTD. (MITSY.O)
294.58USD
9 Feb 2010
$8.06 (+2.81%)
$294.58
--
$295.70
$288.60
4,681
7,310
$332.99
$163.05
Latest Key Developments
Mitsui & Co., Ltd. to Purchase Shares of Mitsui Oil Exploration CO., LTD.
Mitsui & Co., Ltd. announced that it has signed an agreement to purchase a 12.85% stake of Mitsui Oil Exploration CO., LTD., which is engaged in the mineral exploration, development, production, sale, investment and lending of oil, natural gas and hydrocarbon resources in Tokyo, Japan, at the price of JPY 32 billion in total. After the transaction, the Company will hold a 67.46% stake in Mitsui Oil Exploration CO., LTD., up from 54.61%.
Mitsui & Co., Ltd. to Acquire TRINET LOGISTICS CO.,LTD. through Stock Swap
Mitsui & Co., Ltd. announced that it has signed an agreement to acquire shares of TRINET LOGISTICS CO.,LTD.'s common stock, through stock swap, effective April 1, 2010. Under the agreement, one share of TRINET LOGISTICS CO.,LTD.'s common stock will be exchanged for 6.12 shares of the Company's common stock. After the transaction, TRINET LOGISTICS CO.,LTD. will be the Company's wholly owned subsidiary.
Mitsui & Co., Ltd. Reaffirms Mid-year Dividend Outlook and Raises Year-end Dividend Outlook for FY Ending March 2010
Mitsui & Co., Ltd. announced that it has reaffirmed its mid-year dividend outlook of JPY 7.00 per share, and raised its year-end dividend outlook from JPY 7.00 per share, to JPY 9.00 per share, for the fiscal year ending March 2010.
Mitsui & Co., Ltd. to Acquire TPV Technology Limited's Stock through Private Placement and Takeover Bid
Mitsui & Co., Ltd. announced that it will acquire 234,583,614 shares (a 10% stake) of TPV Technology Limited's stock at the price of HKD 5.20 per share, or HKD 1.22 billion in total, though private placement. Mitsui & Co., Ltd. will also acquire up to 234,583,613 shares (a 10% stake) of TPV Technology Limited's stock at the price of HKD 5.20 per share. After these transactions, Mitsui & Co., Ltd.'s stake will be 20% at most. TPV Technology Limited is engaged in design and manufacturing of display products.
Mitsui & Co., Ltd. and Nabaa Industrial Development and Investment Co Mull $20 Billion Petchem Plant-Reuters
Reuters reported that Mitsui & Co., Ltd. and Nabaa Industrial Development and Investment Co are considering building a $20 billion petrochemical complex in Yanbu. Both companies will take a final investment decision when they complete feasibility studies by June this year.
Mitsui & Co., Ltd. And Tokyo Gas Co., Ltd. To Buy Mexico Natural Gas Companies For JPY110 Billion-DJ
Dow Jones reported that Mitsui & Co., Ltd. and Tokyo Gas Co., Ltd. will jointly acquire five natural gas power companies operating in Mexico and other companies for a total of JPY110 billion, the Yomiuri Shimbun reported. The two companies said their holding company in Mexico has agreed to buy the five power stations and other businesses, including a pipeline company, from Gas Natural SDG S.A., a Spanish gas firm. The paper said Mitsui & Co., Ltd. has been investing in power and other Mexican infrastructure projects in recent years, and will pay about JPY35 billion to purchase the firms, while Tokyo Gas will foot about JPY15 billion. The remaining JPY60 billion will be funded through a financing loan. The acquisition is expected to be completed in the first half of this year. The total aggregate capacity at the five power stations is 2,233 megawatts.
Gas Natural Group Sells its Electricity Generation Assets in Mexico
Gas Natural Group announced that it has sold to Mitsui & Co Ltd and Tokyo Gas Co Ltd its electricity generation assets in Mexico at a price of approximately USD 1,225 million including debt. The purchase agreement comprises a number of companies engaged in the electric power generation, such as Central Anahuac SA de CV (Rio Bravo III), Central Lomas del Real SA de CV (Rio Bravo III), Central Valle Hermoso SA de CV (Rio Bravo IV), Electricidad Aguila de Altamira S de RL, Central Saltillo SA de CV and Gasoducto del Rio SA de CV. Mitsui & Co Ltd and Tokyo Gas Co Ltd will buy 76% of the generation plants and have a call option on the remaining 24%.
Energy XXI (Bermuda) Limited Closes Acquisition of Interests in Core Operated Gulf of Mexico Oil Properties From Mitsui & Co., Ltd.'s Subsidiary
Energy XXI (Bermuda) Limited announced that it has completed the acquisition of certain Gulf of Mexico shelf oil and natural gas interests from MitEnergy Upstream LLC, a subsidiary of Mitsui & Co., Ltd. The properties include 22 core fields currently producing approximately 8,000 net barrels of oil equivalent (BOE) per day, about 77% of which is oil. The transaction was funded through common and preferred equity offerings raising $268.7 million after deducting underwriting discounts and commissions. Actual funding requirements at closing totaled $259 million, reflecting downward adjustments to the purchase price to reflect revenues generated since the effective date of July 1, 2009.
Mitsui & Co., Ltd. to Sell Shares of success academy to J-COM CO., LTD.
Mitsui & Co., Ltd. announced that J-COM CO., LTD. has decided to purchase 620 shares of success academy, which is engaged in the operation of kindergarten in Kanagawa Prefecture, from the Company, effective December 1, 2009. After the transaction, J-COM CO., LTD. will hold a 20% stake (620 shares) in , up from 0%.
Energy XXI Executes Conditional Purchase/Sale Agreement To Acquire Certain Gulf of Mexico Shelf Oil And Natural Gas Interests From MitEnergy Upstream LLC, A Subsidiary Of Mitsui & Co., Ltd.
Energy XXI announced it has executed a conditional purchase/sale agreement to acquire certain Gulf of Mexico shelf oil and natural gas interests from MitEnergy Upstream LLC, a subsidiary of Mitsui & Co., Ltd., for a headline cash consideration of $283 million. The properties include 30 fields currently producing 8,000 net barrels of oil equivalent (BOE) per day, about 77% of which is oil and 80% of which is already operated by Energy XXI. Upon restoration of volumes pending repair of third party pipelines damaged by hurricanes in 2008, net production is expected to reach 10,000 BOE per day. Offshore leases included in the purchase total nearly 33,000 net acres. Concurrent with the signing of the agreement, Energy XXI has purchased puts and put spreads that provide downside price protection averaging $73.46 per barrel on 6,500 barrels per day of oil production for 18 months, from January 2010 through June 2011. The transaction is likely to be funded through a combination of new equity, cash on hand and bank debt. Energy XXI has placed a 5% cash deposit into escrow under the terms of the agreement. The purchase is subject to customary closing conditions and adjustments, such as downward adjustments to the purchase price to reflect revenues generated between the effective date of July 1, 2009 and the closing, which is expected within 90 days.
Mitsui & Co <8031.T>-2009/10 group forecast(SEC)
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